Shares of Investar Holding Corp (NASDAQ:ISTR) have earned a consensus rating of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $29.00.
ISTR has been the topic of a number of recent analyst reports. DA Davidson initiated coverage on Business First Bancshares in a research report on Wednesday. They issued a “neutral” rating and a $28.00 price objective on the stock. FIG Partners reiterated an “outperform” rating on shares of Sterling Bancorp in a research report on Monday, April 29th. Zacks Investment Research downgraded Green Plains from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 27th. ValuEngine upgraded Xylem from a “hold” rating to a “buy” rating in a research report on Friday, June 21st. Finally, Raymond James downgraded First Midwest Bancorp to a “hold” rating in a research report on Monday, July 8th.
In other Investar news, CFO Christopher L. Hufft sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $23.55, for a total transaction of $29,437.50. Following the sale, the chief financial officer now owns 26,006 shares in the company, valued at $612,441.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Investar by 2.2% during the fourth quarter. BlackRock Inc. now owns 443,336 shares of the financial services provider’s stock valued at $10,995,000 after purchasing an additional 9,507 shares in the last quarter. RMB Capital Management LLC raised its position in Investar by 3.6% during the fourth quarter. RMB Capital Management LLC now owns 279,608 shares of the financial services provider’s stock valued at $6,934,000 after purchasing an additional 9,680 shares in the last quarter. Mendon Capital Advisors Corp raised its position in Investar by 1,121.6% during the fourth quarter. Mendon Capital Advisors Corp now owns 271,907 shares of the financial services provider’s stock valued at $6,743,000 after purchasing an additional 249,648 shares in the last quarter. Royce & Associates LP raised its position in Investar by 33.8% during the fourth quarter. Royce & Associates LP now owns 169,900 shares of the financial services provider’s stock valued at $4,214,000 after purchasing an additional 42,900 shares in the last quarter. Finally, Northern Trust Corp raised its position in Investar by 2.1% during the fourth quarter. Northern Trust Corp now owns 101,846 shares of the financial services provider’s stock valued at $2,526,000 after purchasing an additional 2,112 shares in the last quarter. Institutional investors and hedge funds own 54.10% of the company’s stock.
Shares of Investar stock traded down $0.07 during trading hours on Monday, reaching $23.82. The company had a trading volume of 10,710 shares, compared to its average volume of 16,834. Investar has a one year low of $19.49 and a one year high of $28.69. The business has a fifty day moving average price of $23.64. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $238.92 million, a price-to-earnings ratio of 14.52 and a beta of 0.15.
Investar (NASDAQ:ISTR) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. Investar had a return on equity of 9.03% and a net margin of 18.46%. The firm had revenue of $16.44 million during the quarter, compared to analyst estimates of $16.42 million. As a group, equities research analysts predict that Investar will post 1.94 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 8th will be given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, July 5th. This is an increase from Investar’s previous quarterly dividend of $0.05. Investar’s dividend payout ratio (DPR) is 13.41%.
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, and individual retirement accounts, as well as various certificates of deposit; debit cards; and mobile banking services.
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