Investar (NASDAQ:ISTR) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Investar (NASDAQ:ISTR) from a hold rating to a buy rating in a research note released on Saturday morning.

Separately, Piper Sandler began coverage on Investar in a research note on Friday, February 21st. They issued a “neutral” rating and a $21.00 price objective for the company.

Investar Stock Down 1.5 %

Investar stock opened at $17.85 on Friday. The company has a market capitalization of $175.39 million, a PE ratio of 8.75 and a beta of 0.81. Investar has a 12-month low of $14.60 and a 12-month high of $24.81. The firm’s fifty day moving average is $18.54 and its 200 day moving average is $20.29. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.85.

Investar (NASDAQ:ISTR) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.26. Investar had a net margin of 12.81% and a return on equity of 8.00%. As a group, sell-side analysts predict that Investar will post 1.83 EPS for the current fiscal year.

Investar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Monday, March 31st. Investar’s dividend payout ratio is currently 20.59%.

Hedge Funds Weigh In On Investar

Large investors have recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of Investar by 25.0% in the third quarter. Barclays PLC now owns 26,122 shares of the financial services provider’s stock worth $507,000 after purchasing an additional 5,224 shares during the last quarter. State Street Corp grew its holdings in Investar by 5.6% during the third quarter. State Street Corp now owns 108,540 shares of the financial services provider’s stock worth $2,117,000 after buying an additional 5,774 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Investar in the 3rd quarter valued at $572,000. Empowered Funds LLC lifted its stake in Investar by 5.0% during the 4th quarter. Empowered Funds LLC now owns 54,123 shares of the financial services provider’s stock valued at $1,189,000 after acquiring an additional 2,599 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Investar by 46.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,417 shares of the financial services provider’s stock worth $318,000 after acquiring an additional 5,190 shares during the last quarter. Institutional investors own 50.17% of the company’s stock.

Investar Company Profile

Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products to individuals, professionals, and small to medium-sized businesses in south Louisiana, southeast Texas, and Alabama in the United States. The company offers various deposit products and services, such as savings, checking, money market, and individual retirement accounts, as well as various certificates of deposit; debit and credit cards; internet, mobile, and video banking services; and reciprocal deposit products.