Investar (NASDAQ:ISTR) Price Target Cut to $20.00

Investar (NASDAQ:ISTR) had its price objective lowered by Hovde Group from $20.50 to $20.00 in a report released on Tuesday, MarketBeat.com reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price objective points to a potential upside of 23.23% from the stock’s previous close.

Investar Price Performance

ISTR stock opened at $16.23 on Tuesday. Investar has a 12 month low of $9.07 and a 12 month high of $17.99. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average price of $16.09 and a 200 day moving average price of $14.31. The stock has a market cap of $158.73 million, a PE ratio of 9.07 and a beta of 0.77.

Investar (NASDAQ:ISTR) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.14. The company had revenue of $20.25 million during the quarter, compared to analysts’ expectations of $20.84 million. Investar had a net margin of 12.02% and a return on equity of 8.25%. Equities research analysts anticipate that Investar will post 1.32 earnings per share for the current year.

Institutional Investors Weigh In On Investar

Several large investors have recently modified their holdings of ISTR. Barclays PLC raised its stake in shares of Investar by 23.0% during the 3rd quarter. Barclays PLC now owns 13,166 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 2,461 shares in the last quarter. AJOVista LLC purchased a new stake in Investar during the 4th quarter worth approximately $55,000. Stratos Wealth Partners LTD. purchased a new stake in Investar during the 4th quarter worth approximately $180,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Investar in the 3rd quarter valued at $149,000. Finally, Banc Funds Co. LLC boosted its holdings in shares of Investar by 2.9% in the 4th quarter. Banc Funds Co. LLC now owns 609,617 shares of the financial services provider’s stock valued at $9,089,000 after acquiring an additional 16,918 shares during the last quarter. Institutional investors own 50.17% of the company’s stock.

About Investar

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.