Shares of Investar Holding (NASDAQ:ISTR) have been given an average recommendation of “Buy” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $27.67.
Several equities analysts recently issued reports on ISTR shares. Zacks Investment Research raised Investar from a “sell” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Tuesday, December 26th. Hovde Group reissued an “outperform” rating and set a $28.00 target price on shares of Investar in a research note on Friday, December 29th. Finally, Sandler O’Neill set a $29.00 target price on Investar and gave the stock a “buy” rating in a research note on Monday, January 29th.
In other Investar news, VP Randolf F. Kassmeier sold 3,000 shares of the stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $25.26, for a total value of $75,780.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 8.83% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company acquired a new stake in Investar in the 2nd quarter valued at about $190,000. SG Americas Securities LLC acquired a new stake in Investar in the 3rd quarter valued at about $300,000. California State Teachers Retirement System acquired a new stake in Investar in the 2nd quarter valued at about $332,000. Wells Fargo & Company MN increased its holdings in shares of Investar by 512,400.0% in the 3rd quarter. Wells Fargo & Company MN now owns 20,500 shares of the financial services provider’s stock valued at $494,000 after acquiring an additional 20,496 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Investar by 19.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 25,231 shares of the financial services provider’s stock valued at $608,000 after acquiring an additional 4,093 shares during the last quarter. 56.39% of the stock is currently owned by institutional investors.
ISTR traded up $0.50 during mid-day trading on Friday, hitting $26.40. 16,382 shares of the stock were exchanged, compared to its average volume of 17,587. Investar has a 1-year low of $20.25 and a 1-year high of $27.20. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The firm has a market cap of $250.76, a price-to-earnings ratio of 23.57 and a beta of 0.34.
Investar (NASDAQ:ISTR) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Investar had a return on equity of 6.14% and a net margin of 14.35%. The firm had revenue of $13.78 million for the quarter, compared to analyst estimates of $13.54 million. research analysts forecast that Investar will post 1.72 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Monday, April 9th will be given a $0.035 dividend. The ex-dividend date of this dividend is Friday, April 6th. This represents a $0.14 dividend on an annualized basis and a yield of 0.53%. This is a positive change from Investar’s previous quarterly dividend of $0.03. Investar’s dividend payout ratio (DPR) is currently 12.50%.
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Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products for individuals and small to medium-sized businesses in South Louisiana. The company offers various deposit products and services, such as savings, checking, money market, NOW, and individual retirement accounts, as well as various certificates of deposit; debit cards; and mobile banking services.
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