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Investar (NASDAQ:ISTR) Stock Price Expected to Rise, Piper Sandler Analyst Says

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Investar (NASDAQ:ISTR - Get Free Report) had its price target lifted by equities research analysts at Piper Sandler from $22.00 to $27.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Piper Sandler's price target suggests a potential upside of 20.64% from the stock's previous close.

Separately, Wall Street Zen downgraded shares of Investar from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th.

Read Our Latest Stock Report on ISTR

Investar Price Performance

Shares of ISTR traded up $0.56 during trading hours on Wednesday, reaching $22.38. The stock had a trading volume of 21,189 shares, compared to its average volume of 38,720. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.89 and a current ratio of 0.89. Investar has a 12 month low of $14.91 and a 12 month high of $24.81. The stock has a market capitalization of $220.22 million, a PE ratio of 10.22 and a beta of 0.56. The company's 50-day moving average is $19.11 and its two-hundred day moving average is $18.93.

Investar (NASDAQ:ISTR - Get Free Report) last posted its earnings results on Monday, April 21st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.35 by $0.29. The firm 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 8.60% and a net margin of 13.99%. Research analysts expect that Investar will post 1.83 EPS for the current year.

Institutional Investors Weigh In On Investar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in Investar by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 341,384 shares of the financial services provider's stock valued at $7,497,000 after acquiring an additional 23,895 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Investar by 42.0% in the 4th quarter. Wellington Management Group LLP now owns 228,877 shares of the financial services provider's stock worth $5,026,000 after purchasing an additional 67,695 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Investar by 55.3% in the 4th quarter. Russell Investments Group Ltd. now owns 191,093 shares of the financial services provider's stock valued at $4,196,000 after purchasing an additional 68,027 shares during the last quarter. Rhino Investment Partners Inc boosted its stake in shares of Investar by 8.0% in the 1st quarter. Rhino Investment Partners Inc now owns 157,151 shares of the financial services provider's stock valued at $2,767,000 after purchasing an additional 11,703 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in shares of Investar by 1.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 145,888 shares of the financial services provider's stock worth $3,204,000 after buying an additional 2,099 shares during the period. 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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