StockNews.com Downgrades Investar (NASDAQ:ISTR) to Hold

Investar (NASDAQ:ISTRGet Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, Hovde Group lowered their price objective on Investar from $20.50 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, April 23rd.

Get Our Latest Stock Analysis on ISTR

Investar Stock Down 0.1 %

Shares of NASDAQ:ISTR opened at $15.73 on Wednesday. The stock has a fifty day simple moving average of $16.11 and a two-hundred day simple moving average of $15.33. The stock has a market capitalization of $154.63 million, a price-to-earnings ratio of 8.79 and a beta of 0.75. Investar has a 12-month low of $9.07 and a 12-month high of $17.99. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30.

Investar (NASDAQ:ISTRGet Free Report) last announced its quarterly earnings data on Monday, April 22nd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. The business had revenue of $19.96 million during the quarter, compared to analysts’ expectations of $18.78 million. Investar had a return on equity of 8.17% and a net margin of 12.02%. On average, research analysts anticipate that Investar will post 1.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. AJOVista LLC purchased a new position in shares of Investar in the fourth quarter worth $55,000. Hillsdale Investment Management Inc. bought a new stake in shares of Investar in the first quarter worth $185,000. Stratos Wealth Partners LTD. bought a new stake in shares of Investar in the fourth quarter worth $180,000. Barclays PLC grew its holdings in shares of Investar by 23.0% in the third 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 during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Investar in the third quarter worth $149,000. Hedge funds and other institutional investors own 50.17% of the company’s stock.

About Investar

(Get Free Report)

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.

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