Investar (NASDAQ:ISTR) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Investar (NASDAQ:ISTR - Free Report) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

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

Investar Stock Up 1.0 %

NASDAQ:ISTR traded up $0.19 on Wednesday, hitting $19.54. The stock had a trading volume of 3,170 shares, compared to its average volume of 44,361. The company has a market cap of $191.86 million, a PE ratio of 9.58 and a beta of 0.52. Investar has a 52 week low of $14.60 and a 52 week high of $24.81. The business's fifty day moving average is $17.44 and its 200 day moving average is $19.94. 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 (NASDAQ:ISTR - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.29. Investar had a net margin of 12.81% and a return on equity of 8.00%. The business had revenue of $20.25 million during the quarter, compared to the consensus estimate of $19.90 million. On average, equities research analysts expect that Investar will post 1.83 EPS for the current fiscal year.

Investar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Monday, March 31st. Investar's payout ratio is currently 19.18%.

Hedge Funds Weigh In On Investar

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Investar by 3,194.4% during the first 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 in the last quarter. New York State Common Retirement Fund lifted its position 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 in the last quarter. Copeland Capital Management LLC increased its position in shares of Investar by 26.4% during the first quarter. Copeland Capital Management LLC now owns 3,001 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 626 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Investar by 47.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider's stock worth $182,000 after acquiring an additional 2,688 shares during the period. Finally, Prudential Financial Inc. bought a new position in Investar in the 4th quarter valued at $211,000. 50.17% of the stock is owned by hedge funds and other institutional investors.

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.