Investar (NASDAQ:ISTR) Rating Increased to Buy at StockNews.com

Investar (NASDAQ:ISTR) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Separately, Piper Sandler began coverage on Investar in a report on Friday. They set a “neutral” rating and a $21.00 target price for the company.

Investar Trading Down 2.2 %

Investar stock opened at $18.56 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85. The firm has a market cap of $182.41 million, a PE ratio of 9.10 and a beta of 0.79. The stock’s 50 day simple moving average is $20.24 and its two-hundred day simple moving average is $20.23. Investar has a 12 month low of $14.60 and a 12 month high of $24.81.

Investar (NASDAQ:ISTR) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.26. Investar had a return on equity of 8.00% and a net margin of 12.81%. Analysts anticipate that Investar will post 1.83 earnings per share for the current year.

Institutional Trading of Investar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ISTR. Squarepoint Ops LLC boosted its position in Investar by 32.0% in the 4th quarter. Squarepoint Ops LLC now owns 18,720 shares of the financial services provider’s stock valued at $411,000 after buying an additional 4,534 shares during the period. Millennium Management LLC purchased a new position in Investar in the fourth quarter valued at $651,000. Bridgeway Capital Management LLC grew its stake in Investar by 1.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 145,888 shares of the financial services provider’s stock worth $3,204,000 after purchasing an additional 2,099 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Investar by 12.7% during the 4th quarter. BNP Paribas Financial Markets now owns 16,137 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 1,817 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Investar by 8.0% in the 4th quarter. Ameriprise Financial Inc. now owns 17,455 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 50.17% of the company’s stock.

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.