Investar (NASDAQ:ISTR) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Investar Holding Corporation (NASDAQ:ISTR)’s stock price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $23.80 and traded as high as $26.70. Investar shares last traded at $26.38, with a volume of 34,917 shares changing hands.

Analyst Ratings Changes

Several brokerages have weighed in on ISTR. Weiss Ratings reissued a “buy (b-)” rating on shares of Investar in a research note on Monday. Piper Sandler boosted their target price on Investar to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Finally, Zacks Research upgraded Investar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $29.00.

Investar Stock Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $258.79 million, a PE ratio of 11.78 and a beta of 0.55. The firm has a fifty day moving average price of $23.80 and a two-hundred day moving average price of $22.28.

Investar (NASDAQ:ISTR) last posted its quarterly earnings data on Tuesday, November 1st. The financial services provider reported ($1.06) earnings per share (EPS) for the quarter. Investar had a net margin of 14.87% and a return on equity of 9.38%. The business had revenue of $25.46 million for the quarter. Research analysts expect that Investar Holding Corporation will post 1.83 EPS for the current year.

Investar Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, October 1st were paid a $0.11 dividend. This represents a yield of 190.0%. The ex-dividend date of this dividend was Tuesday, September 30th. Investar’s dividend payout ratio (DPR) is currently 19.64%.

Hedge Funds Weigh In On Investar

A number of hedge funds have recently added to or reduced their stakes in ISTR. Qube Research & Technologies Ltd raised its stake in shares of Investar by 19.3% during the third quarter. Qube Research & Technologies Ltd now owns 35,518 shares of the financial services provider’s stock valued at $824,000 after acquiring an additional 5,740 shares in the last quarter. Bank of America Corp DE raised its position in Investar by 39.2% during the 3rd quarter. Bank of America Corp DE now owns 21,632 shares of the financial services provider’s stock valued at $502,000 after purchasing an additional 6,091 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Investar by 4.1% in the 3rd quarter. Alliancebernstein L.P. now owns 431,281 shares of the financial services provider’s stock worth $10,010,000 after buying an additional 17,015 shares during the period. Mendon Capital Advisors Corp purchased a new stake in shares of Investar in the 3rd quarter worth $887,000. Finally, Two Sigma Investments LP grew its position in shares of Investar by 20.1% during the 3rd quarter. Two Sigma Investments LP now owns 43,168 shares of the financial services provider’s stock worth $1,002,000 after buying an additional 7,220 shares in the last quarter. 50.17% of the stock is currently owned by institutional investors.

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.