Investar (NASDAQ:ISTR) Upgraded at StockNews.com

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

Separately, Piper Sandler initiated coverage on shares of Investar in a report on Friday, February 21st. They issued a “neutral” rating and a $21.00 price target on the stock.

Investar Price Performance

Investar stock opened at $17.61 on Friday. The stock has a market cap of $173.04 million, a price-to-earnings ratio of 8.63 and a beta of 0.81. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.85. The business has a 50-day simple moving average of $18.49 and a 200 day simple moving average of $20.31. Investar has a 52 week low of $14.60 and a 52 week high of $24.81.

Investar (NASDAQ:ISTR) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.39 by $0.26. Investar had a return on equity of 8.00% and a net margin of 12.81%. On average, research analysts forecast that Investar will post 1.83 earnings per share for the current fiscal year.

Investar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.105 per share. The ex-dividend date is Monday, March 31st. This represents a $0.42 annualized dividend and a dividend yield of 2.39%. Investar’s dividend payout ratio (DPR) is presently 20.59%.

Institutional Trading of Investar

A number of hedge funds have recently bought and sold shares of ISTR. New York State Common Retirement Fund lifted its holdings in shares of Investar by 100.0% in 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 acquiring an additional 1,100 shares during the last quarter. MetLife Investment Management LLC raised its position in Investar by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 5,429 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 3,059 shares during the period. Wells Fargo & Company MN lifted its stake 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 worth $182,000 after purchasing an additional 2,688 shares during the last quarter. Prudential Financial Inc. purchased a new stake in Investar during the fourth quarter valued at about $211,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Investar by 851.5% during the third quarter. BNP Paribas Financial Markets now owns 14,320 shares of the financial services provider’s stock valued at $278,000 after buying an additional 12,815 shares during the last quarter. Institutional investors own 50.17% of the company’s stock.

About Investar

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.