Zacks Investment Research downgraded shares of Investar (NASDAQ:ISTR) from a buy rating to a hold rating in a research report sent to investors on Wednesday.
According to Zacks, “Investar Holding Corporation is a bank holding company for Investar Bank. It offers a range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses and professional concerns, as well as loans to individuals. The company accepts various deposit products, including savings, checking, money market, and NOW accounts, as well as various certificates of deposit and individual retirement accounts. It also provides cash management products and services, such as remote deposit capture, electronic statements, positive pay, ACH origination and wire transfer, investment sweep accounts, and business Internet banking, as well as debit cards and mobile banking services. Investar Holding Corporation is headquartered in Baton Rouge, Louisiana. “
A number of other analysts have also weighed in on the company. Hovde Group restated an outperform rating and set a $28.00 target price on shares of Investar in a report on Friday, December 29th. Sandler O’Neill set a $29.00 target price on Investar and gave the stock a buy rating in a report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Investar has an average rating of Buy and an average price target of $27.50.
Shares of Investar (NASDAQ ISTR) opened at $25.00 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $222.87, a price-to-earnings ratio of 25.51 and a beta of 0.33. Investar has a twelve month low of $19.80 and a twelve month high of $25.95.
Investar (NASDAQ:ISTR) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $13.78 million during the quarter, compared to analyst estimates of $13.54 million. Investar had a return on equity of 6.37% and a net margin of 14.35%. equities analysts forecast that Investar will post 1.72 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 3rd were issued a dividend of $0.0315 per share. This represents a $0.13 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Tuesday, January 2nd. This is a positive change from Investar’s previous quarterly dividend of $0.03. Investar’s dividend payout ratio is currently 13.27%.
In other news, EVP Ryan P. Finnan sold 3,000 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $23.70, for a total transaction of $71,100.00. Following the completion of the sale, the executive vice president now owns 15,314 shares in the company, valued at approximately $362,941.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.83% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Forest Hill Capital LLC lifted its holdings in shares of Investar by 1.6% during the 4th quarter. Forest Hill Capital LLC now owns 305,624 shares of the financial services provider’s stock valued at $7,366,000 after purchasing an additional 4,900 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Investar by 13.4% during the 4th quarter. Deutsche Bank AG now owns 61,482 shares of the financial services provider’s stock valued at $1,481,000 after purchasing an additional 7,260 shares during the last quarter. Kennedy Capital Management Inc. lifted its holdings in shares of Investar by 15.9% during the 4th quarter. Kennedy Capital Management Inc. now owns 52,771 shares of the financial services provider’s stock valued at $1,272,000 after purchasing an additional 7,252 shares during the last quarter. Penn Capital Management Co. Inc. lifted its holdings in shares of Investar by 12.5% during the 4th quarter. Penn Capital Management Co. Inc. now owns 74,795 shares of the financial services provider’s stock valued at $1,803,000 after purchasing an additional 8,331 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Investar by 1.9% during the 4th quarter. BlackRock Inc. now owns 383,124 shares of the financial services provider’s stock valued at $9,234,000 after purchasing an additional 6,969 shares during the last quarter. Hedge funds and other institutional investors own 57.04% of the company’s stock.
Investar Company Profile
Investar Holding Corporation is financial holding company that conducts its operations through, Investar Bank (the Bank), which is a commercial bank. The Company offers a range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses, as well as loans to individuals.
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