Investar (NASDAQ:ISTR) Raised to "Buy" at StockNews.com

Investar (NASDAQ:ISTR - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a report released on Tuesday.

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

Investar Trading Down 1.3 %

Shares of ISTR traded down $0.24 during trading hours on Tuesday, reaching $18.24. The stock had a trading volume of 23,210 shares, compared to its average volume of 44,861. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.85. Investar has a 52 week low of $14.60 and a 52 week high of $24.81. The firm has a 50-day moving average of $17.41 and a 200 day moving average of $19.98. The company has a market cap of $179.14 million, a P/E ratio of 8.94 and a beta of 0.52.

Investar (NASDAQ:ISTR - Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.29. The firm had revenue of $20.25 million during the quarter, compared to analysts' expectations of $19.90 million. Investar had a return on equity of 8.00% and a net margin of 12.81%. On average, sell-side analysts expect that Investar will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Investar

Large investors have recently modified their holdings of the business. New York State Common Retirement Fund boosted its stake in shares of Investar by 100.0% during the 4th quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider's stock worth $48,000 after buying an additional 1,100 shares during the last quarter. Copeland Capital Management LLC lifted its stake in Investar by 26.4% in the 1st quarter. Copeland Capital Management LLC now owns 3,001 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 626 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Investar by 47.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider's stock valued at $182,000 after purchasing an additional 2,688 shares during the last quarter. Prudential Financial Inc. acquired a new stake in Investar in the 4th quarter valued at about $211,000. Finally, GAMMA Investing LLC lifted its stake in Investar by 3,194.4% in the 1st quarter. GAMMA Investing LLC now owns 1,779 shares of the financial services provider's stock valued at $310,000 after purchasing an additional 1,725 shares during the last quarter. 50.17% of the stock is currently owned by institutional investors and hedge funds.

Investar Company Profile

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.