Investar (NASDAQ:ISTR) Stock Passes Above Fifty Day Moving Average - Here's What Happened

Key Points

• Investar Holding Corporation shares surpassed their fifty-day moving average of $22.38, reaching a peak of $22.76 during trading on Tuesday.
• Piper Sandler has raised its price target for Investar from $22.00 to $27.00, indicating an "overweight" rating based on positive performance expectations.
• In the latest quarterly earnings report, Investar reported an EPS of $0.47, exceeding analysts' expectations of $0.40, along with a revenue of $22.27 million against estimates of $21.15 million.

Shares of Investar Holding Corporation (NASDAQ:ISTR - Get Free Report) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $22.38 and traded as high as $22.76. Investar shares last traded at $22.62, with a volume of 32,500 shares changing hands.

Wall Street Analyst Weigh In

Separately, Piper Sandler increased their target price on Investar from $22.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $27.00.

Investar Trading Down 2.2%

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. The stock has a 50-day simple moving average of $22.43 and a two-hundred day simple moving average of $19.88. The firm has a market capitalization of $226.10 million, a P/E ratio of 10.27 and a beta of 0.62.

Investar (NASDAQ:ISTR - Get Free Report) last issued its earnings results on Monday, July 21st. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.07. The business had revenue of $22.27 million during the quarter, compared to analyst estimates of $21.15 million. Investar had a return on equity of 8.84% and a net margin of 14.33%. On average, equities research analysts anticipate that Investar Holding Corporation will post 1.83 earnings per share for the current year.

Investar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Investar's payout ratio is presently 19.64%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ISTR. Copeland Capital Management LLC raised its position in shares of Investar by 26.4% in the 1st quarter. Copeland Capital Management LLC now owns 3,001 shares of the financial services provider's stock worth $53,000 after acquiring an additional 626 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Investar by 440.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,899 shares of the financial services provider's stock valued at $56,000 after buying an additional 2,363 shares in the last quarter. Rhumbline Advisers increased its position in Investar by 12.8% during the 2nd quarter. Rhumbline Advisers now owns 10,451 shares of the financial services provider's stock valued at $202,000 after buying an additional 1,182 shares in the last quarter. LSV Asset Management increased its position in Investar by 258.8% during the 2nd quarter. LSV Asset Management now owns 12,200 shares of the financial services provider's stock valued at $236,000 after buying an additional 8,800 shares in the last quarter. Finally, Savant Capital LLC increased its position in Investar by 6.2% during the 2nd quarter. Savant Capital LLC now owns 13,247 shares of the financial services provider's stock valued at $256,000 after buying an additional 776 shares in the last quarter. 50.17% of the stock is 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.