Wall Street Zen Downgrades Investar (NASDAQ:ISTR) to Hold

Key Points

• Wall Street Zen downgraded Investar from “buy” to “hold,” joining Zacks Research’s “hold” rating. MarketBeat data shows a consensus “hold” rating and an average price target of $31.50.
• Investar shares opened at $31.10, up 1.3%, with a market capitalization of $428.56 million and a 12-month trading range of $21.43 to $31.77.
• The company exceeded quarterly expectations, reporting $0.75 in earnings per share versus a $0.71 consensus estimate and $36.55 million in revenue. Institutional investors own approximately 50.17% of the stock.

Investar (NASDAQ:ISTR - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

ISTR has been the subject of several other reports. Zacks Research cut Investar from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Investar in a report on Thursday, August 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Investar presently has a consensus rating of "Hold" and an average price target of $31.50.

Investar Stock Up 1.3%

Investar stock opened at $31.10 on Friday. The stock has a market cap of $428.56 million, a P/E ratio of 12.80 and a beta of 0.45. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.39. Investar has a twelve month low of $21.43 and a twelve month high of $31.77. The company's 50-day moving average price is $30.01 and its two-hundred day moving average price is $28.90.

Investar (NASDAQ:ISTR - Get Free Report) last issued its quarterly earnings data on Monday, July 20th. The financial services provider reported $0.75 earnings per share (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 firm had revenue of $36.55 million during the quarter, compared to the consensus estimate of $36.35 million. As a group, analysts expect that Investar will post 3.15 EPS for the current year.

Institutional Trading of Investar

A number of institutional investors have recently modified their holdings of ISTR. California State Teachers Retirement System grew its holdings in shares of Investar by 645.8% during the 2nd quarter. California State Teachers Retirement System now owns 5,273 shares of the financial services provider's stock worth $158,000 after purchasing an additional 4,566 shares in the last quarter. AXQ Capital LP acquired a new position in Investar in the second quarter valued at about $212,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Investar in the 2nd quarter valued at approximately $230,000. Hsbc Holdings PLC raised its position in shares of Investar by 14.7% in the 2nd quarter. Hsbc Holdings PLC now owns 57,802 shares of the financial services provider's stock valued at $1,732,000 after buying an additional 7,386 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Investar during the 2nd quarter worth approximately $2,086,000. 50.17% of the stock is currently 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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