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

Investar (NASDAQ:ISTR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Separately, Piper Sandler upgraded Investar from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $21.00 to $22.00 in a report on Tuesday, April 22nd.

Investar Trading Down 1.3%

Shares of Investar stock traded down $0.25 during midday trading on Friday, reaching $18.62. 24,350 shares of the company's stock traded hands, compared to its average volume of 44,037. 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 company has a market cap of $183.31 million, a PE ratio of 9.13 and a beta of 0.58. The stock has a 50 day moving average of $17.92 and a 200-day moving average of $19.82. Investar has a 12 month low of $14.60 and a 12 month high of $24.81.

Investar (NASDAQ:ISTR - Get Free Report) last announced its earnings results on Monday, April 21st. The financial services provider reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.29. The company had revenue of $20.25 million during the quarter, compared to the consensus estimate of $19.90 million. Investar had a return on equity of 8.00% and a net margin of 12.81%. As a group, equities analysts expect that Investar will post 1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Investar

Several institutional investors and hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund boosted its position in shares of Investar by 100.0% during the fourth quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider's stock valued at $48,000 after buying an additional 1,100 shares during the last quarter. Copeland Capital Management LLC boosted its position in shares of Investar by 26.4% during the first quarter. Copeland Capital Management LLC now owns 3,001 shares of the financial services provider's stock valued at $53,000 after buying an additional 626 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Investar by 47.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider's stock valued at $182,000 after buying an additional 2,688 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Investar during the fourth quarter valued at $211,000. Finally, Nuveen LLC purchased a new stake in shares of Investar during the first quarter valued at $264,000. 50.17% of the stock is currently owned by institutional investors.

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.