Investar (NASDAQ:ISTR) Earns Neutral Rating from Analysts at Piper Sandler

Piper Sandler began coverage on shares of Investar (NASDAQ:ISTR) in a report published on Friday, MarketBeat reports. The brokerage issued a neutral rating and a $21.00 price target on the financial services provider’s stock.

Separately, StockNews.com downgraded shares of Investar from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

Investar Stock Performance

Shares of ISTR opened at $18.56 on Friday. The company’s 50 day simple moving average is $20.24 and its 200-day simple moving average is $20.26. The firm has a market cap of $182.41 million, a PE ratio of 9.10 and a beta of 0.79. Investar has a 12-month low of $14.60 and a 12-month high of $24.81. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85.

Investar (NASDAQ:ISTR) last posted its quarterly earnings data 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%. As a group, equities analysts predict that Investar will post 1.83 EPS for the current year.

Investar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.105 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.42 annualized dividend and a dividend yield of 2.26%. Investar’s dividend payout ratio is currently 20.59%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. New York State Common Retirement Fund grew 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 purchasing an additional 1,100 shares during the period. MetLife Investment Management LLC grew its position in Investar by 129.1% during the third quarter. MetLife Investment Management LLC now owns 5,429 shares of the financial services provider’s stock worth $105,000 after buying an additional 3,059 shares during the period. Wells Fargo & Company MN increased its holdings in Investar by 47.8% in the fourth quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider’s stock valued at $182,000 after buying an additional 2,688 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Investar during the 4th quarter valued at approximately $211,000. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of Investar during the 3rd quarter worth approximately $272,000. 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.