Investar (NASDAQ:ISTR) Cut to Hold at StockNews.com

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

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

Investar Price Performance

Shares of ISTR stock opened at $16.60 on Friday. The stock’s 50-day simple moving average is $18.27 and its 200-day simple moving average is $20.26. The firm has a market capitalization of $163.11 million, a price-to-earnings ratio of 8.14 and a beta of 0.52. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 0.95. Investar has a fifty-two week low of $14.60 and a fifty-two week high of $24.81.

Investar (NASDAQ:ISTR) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, equities analysts forecast that Investar will post 1.83 earnings per share for the current fiscal year.

Investar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Monday, March 31st. Investar’s dividend payout ratio is presently 20.59%.

Hedge Funds Weigh In On Investar

A number of hedge funds have recently made changes to their positions in ISTR. New York State Common Retirement Fund increased its position in shares of Investar by 100.0% during the fourth quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,100 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Investar by 129.1% during the third quarter. MetLife Investment Management LLC now owns 5,429 shares of the financial services provider’s stock worth $105,000 after buying an additional 3,059 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Investar by 47.8% in the fourth quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider’s stock valued at $182,000 after buying an additional 2,688 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of Investar in the fourth quarter worth about $211,000. Finally, BNP Paribas Financial Markets boosted its position in Investar by 851.5% during the third quarter. BNP Paribas Financial Markets now owns 14,320 shares of the financial services provider’s stock worth $278,000 after acquiring an additional 12,815 shares during the last quarter. Institutional investors and hedge funds 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.