Investar (NASDAQ:ISTR) Downgraded to Hold Rating by StockNews.com

Investar (NASDAQ:ISTR) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Piper Sandler upgraded Investar from a “neutral” rating to an “overweight” rating and increased their price target for the company from $21.00 to $22.00 in a research note on Tuesday, April 22nd.

Investar Stock Down 1.4%

Shares of NASDAQ ISTR opened at $19.37 on Friday. Investar has a 52 week low of $14.60 and a 52 week high of $24.81. The stock’s fifty day moving average is $17.76 and its 200 day moving average is $19.86. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $190.70 million, a P/E ratio of 9.50 and a beta of 0.58.

Investar (NASDAQ:ISTR) last posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.29. The company had revenue of $20.25 million during the quarter, compared to analysts’ expectations of $19.90 million. Investar had a return on equity of 8.00% and a net margin of 12.81%. Sell-side analysts forecast that Investar will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Investar

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC lifted its stake in shares of Investar by 25.0% in the 3rd quarter. Barclays PLC now owns 26,122 shares of the financial services provider’s stock valued at $507,000 after purchasing an additional 5,224 shares during the period. JPMorgan Chase & Co. lifted its position in Investar by 46.2% during the third quarter. JPMorgan Chase & Co. now owns 16,417 shares of the financial services provider’s stock valued at $318,000 after buying an additional 5,190 shares during the period. Ritholtz Wealth Management grew its position in shares of Investar by 51.7% in the 4th quarter. Ritholtz Wealth Management now owns 59,233 shares of the financial services provider’s stock worth $1,301,000 after buying an additional 20,196 shares during the period. Empowered Funds LLC increased its position 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 buying an additional 2,599 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Investar by 100.0% in 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 buying an additional 1,100 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.