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

StockNews.com upgraded shares of Investar (NASDAQ:ISTR) from a hold rating to a buy rating in a research note released on Friday.

Separately, Piper Sandler initiated coverage on shares of Investar in a research report on Friday. They issued a “neutral” rating and a $21.00 target price for the company.

Investar Price Performance

ISTR stock opened at $18.56 on Friday. Investar has a one year low of $14.60 and a one year high of $24.81. The firm has a 50-day moving average of $20.33 and a two-hundred day moving average of $20.21. The firm has a market capitalization of $182.44 million, a PE ratio of 9.10 and a beta of 0.79. 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 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.26. Investar had a net margin of 12.81% and a return on equity of 8.00%. On average, analysts forecast that Investar will post 1.83 earnings per share for the current year.

Investar Dividend Announcement

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

Institutional Investors Weigh In On Investar

Several hedge funds and other institutional investors have recently made changes to their positions in ISTR. Barclays PLC grew its holdings in Investar by 25.0% in the 3rd quarter. Barclays PLC now owns 26,122 shares of the financial services provider’s stock valued at $507,000 after buying an additional 5,224 shares during the last quarter. State Street Corp grew its stake in shares of Investar by 5.6% in the third quarter. State Street Corp now owns 108,540 shares of the financial services provider’s stock worth $2,117,000 after acquiring an additional 5,774 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Investar during the 3rd quarter valued at $572,000. Empowered Funds LLC grew its position in Investar by 5.0% in the 4th quarter. Empowered Funds LLC now owns 54,123 shares of the financial services provider’s stock worth $1,189,000 after purchasing an additional 2,599 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Investar by 46.2% in the third quarter. JPMorgan Chase & Co. now owns 16,417 shares of the financial services provider’s stock valued at $318,000 after buying an additional 5,190 shares during the period. 50.17% of the stock is owned by institutional investors and hedge funds.

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.