Investar (NASDAQ:ISTR) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Investar (NASDAQ:ISTR - Free Report) from a buy rating to a hold rating in a report published on Sunday.

Separately, Piper Sandler assumed coverage on Investar in a report on Friday, February 21st. They issued a "neutral" rating and a $21.00 price objective on the stock.

Investar Stock Performance

Investar stock traded down $1.17 during mid-day trading on Friday, hitting $15.77. The company had a trading volume of 45,904 shares, compared to its average volume of 43,815. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $154.96 million, a price-to-earnings ratio of 7.73 and a beta of 0.52. The company's fifty day moving average is $17.92 and its 200-day moving average is $20.12. Investar has a 12-month low of $14.60 and a 12-month high of $24.81.

Investar (NASDAQ:ISTR - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.39 by $0.26. Investar had a net margin of 12.81% and a return on equity of 8.00%. Equities research analysts predict that Investar will post 1.83 EPS for the current year.

Investar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.105 per share. The ex-dividend date is Monday, March 31st. This represents a $0.42 annualized dividend and a dividend yield of 2.66%. Investar's dividend payout ratio (DPR) is presently 20.59%.

Institutional Investors Weigh In On Investar

Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Investar by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 26,778 shares of the financial services provider's stock worth $519,000 after acquiring an additional 1,706 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Investar by 851.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 14,320 shares of the financial services provider's stock worth $278,000 after purchasing an additional 12,815 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Investar by 129.1% during the third quarter. MetLife Investment Management LLC now owns 5,429 shares of the financial services provider's stock worth $105,000 after buying an additional 3,059 shares in the last quarter. State Street Corp raised its position in shares of Investar by 5.6% in the third quarter. State Street Corp now owns 108,540 shares of the financial services provider's stock valued at $2,117,000 after buying an additional 5,774 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Investar by 49.6% in the third quarter. Wellington Management Group LLP now owns 161,182 shares of the financial services provider's stock worth $3,127,000 after buying an additional 53,434 shares in the last quarter. 50.17% of the stock is currently owned by institutional investors and hedge funds.

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.