Investar (NASDAQ:ISTR) Stock Rating Upgraded by StockNews.com

Investar (NASDAQ:ISTR) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Separately, Piper Sandler began coverage on Investar in a research note on Friday, February 21st. They issued a “neutral” rating and a $21.00 price target on the stock.

Investar Price Performance

Shares of Investar stock opened at $17.85 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 0.95. Investar has a 52-week low of $14.60 and a 52-week high of $24.81. The company has a fifty day moving average of $18.54 and a 200-day moving average of $20.31. The stock has a market capitalization of $175.39 million, a price-to-earnings ratio of 8.75 and a beta of 0.81.

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

Institutional Trading of Investar

Institutional investors have recently modified their holdings of the company. Rhino Investment Partners Inc raised its position in Investar by 383.8% during the 4th quarter. Rhino Investment Partners Inc now owns 145,448 shares of the financial services provider’s stock valued at $3,194,000 after purchasing an additional 115,387 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Investar by 55.3% during the fourth quarter. Russell Investments Group Ltd. now owns 191,093 shares of the financial services provider’s stock valued at $4,196,000 after buying an additional 68,027 shares during the period. Wellington Management Group LLP raised its holdings in shares of Investar by 42.0% during the fourth quarter. Wellington Management Group LLP now owns 228,877 shares of the financial services provider’s stock valued at $5,026,000 after acquiring an additional 67,695 shares in the last quarter. Millennium Management LLC purchased a new stake in Investar in the fourth quarter worth $651,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Investar in the third quarter valued at $572,000. 50.17% of the stock is currently owned by hedge funds and other institutional investors.

Investar Company Profile

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.