Investar (NASDAQ:ISTR) Downgraded by Zacks Research to "Hold"

Key Points

• Zacks Research downgraded Investar from “strong buy” to “hold.” Other analysts’ views leave the stock with an average “hold” rating and a consensus price target of $31.50.
• Investar shares opened at $29.76, compared with a 52-week range of $21.43 to $31.77. The company has a market capitalization of approximately $410 million and a P/E ratio of 12.25.
• Investar exceeded quarterly expectations, reporting $0.75 in EPS versus the $0.71 consensus estimate and revenue of $36.55 million. Institutional investors own about 50.17% of the company.

Investar (NASDAQ:ISTR - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday, Zacks reports.

Several other research firms have also weighed in on ISTR. Weiss Ratings restated a "buy (b)" rating on shares of Investar in a research report on Thursday, August 27th. Wall Street Zen raised Investar from a "hold" rating to a "buy" rating in a research report on Sunday, May 24th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $31.50.

Investar Price Performance

Shares of NASDAQ ISTR opened at $29.76 on Monday. Investar has a 1 year low of $21.43 and a 1 year high of $31.77. The stock has a market capitalization of $410.09 million, a P/E ratio of 12.25 and a beta of 0.45. The company's 50-day moving average is $29.95 and its 200 day moving average is $28.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.95 and a quick ratio of 0.95.

Investar (NASDAQ:ISTR - Get Free Report) last issued its quarterly earnings data on Monday, July 20th. The financial services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.71 by $0.04. Investar had a net margin of 17.55% and a return on equity of 11.65%. The business had revenue of $36.55 million during the quarter, compared to analyst estimates of $36.35 million. On average, sell-side analysts expect that Investar will post 3.15 earnings per share for the current year.

Institutional Investors Weigh In On Investar

Several hedge funds have recently added to or reduced their stakes in ISTR. BlackRock Inc. bought a new position in shares of Investar during the second quarter valued at $37,649,000. Fourthstone LLC grew its position in Investar by 148.7% during the 4th quarter. Fourthstone LLC now owns 695,992 shares of the financial services provider's stock valued at $18,597,000 after purchasing an additional 416,145 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new stake in Investar during the 2nd quarter valued at about $5,057,000. Bank of New York Mellon Corp increased its stake in Investar by 240.9% during the 1st quarter. Bank of New York Mellon Corp now owns 123,244 shares of the financial services provider's stock valued at $3,361,000 after purchasing an additional 87,095 shares in the last quarter. Finally, AlTi Global Inc. bought a new stake in Investar during the 1st quarter valued at about $2,370,000. 50.17% of the stock is owned by institutional investors.

Investar Company Profile

Investar Holdings, Inc is a bank holding company headquartered in Baton Rouge, Louisiana, operating through its primary subsidiary, Investar Bank. The company delivers commercial and consumer banking products across southeastern Louisiana and into select Texas markets, focusing on relationship-driven service. Investar Bank's offerings include deposit accounts, lending solutions, online and mobile banking, and treasury management services.

Its lending portfolio encompasses commercial real estate financing, construction and development loans, commercial and industrial credits, agricultural loans, and residential mortgage originations.

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