Investar (NASDAQ:ISTR - Get Free Report) had its price objective dropped by equities researchers at Hovde Group from $20.50 to $20.00 in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Hovde Group's price target would suggest a potential upside of 22.93% from the stock's current price.
Investar Price Performance
Shares of NASDAQ:ISTR traded up $0.17 during midday trading on Tuesday, reaching $16.27. 16,362 shares of the company's stock were exchanged, compared to its average volume of 24,029. The company's 50 day simple moving average is $16.10 and its two-hundred day simple moving average is $14.30. The firm has a market capitalization of $159.12 million, a PE ratio of 9.63 and a beta of 0.77. Investar has a 12 month low of $9.07 and a 12 month high of $17.99. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.96 and a current ratio of 0.96.
Investar (NASDAQ:ISTR - Get Free Report) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.14. The business had revenue of $20.25 million during the quarter, compared to analysts' expectations of $20.84 million. Investar had a net margin of 11.94% and a return on equity of 8.64%. Equities research analysts expect that Investar will post 1.32 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Investar
A number of hedge funds have recently made changes to their positions in the company. Barclays PLC increased its position in shares of Investar by 23.0% during the 3rd quarter. Barclays PLC now owns 13,166 shares of the financial services provider's stock worth $139,000 after purchasing an additional 2,461 shares in the last quarter. AJOVista LLC acquired a new stake in Investar in the 4th quarter valued at about $55,000. Stratos Wealth Partners LTD. acquired a new stake in Investar in the 4th quarter valued at about $180,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Investar in the 3rd quarter valued at about $149,000. Finally, Banc Funds Co. LLC increased its position in Investar by 2.9% in the 4th quarter. Banc Funds Co. LLC now owns 609,617 shares of the financial services provider's stock valued at $9,089,000 after acquiring an additional 16,918 shares in the last quarter. Institutional investors and hedge funds own 50.17% of the company's stock.
Investar Company Profile
(
Get Free Report)
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.
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