Investar (NASDAQ:ISTR) Share Price Crosses Below 50-Day Moving Average – Time to Sell?

Shares of Investar Holding Corporation (NASDAQ:ISTR) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $28.84 and traded as low as $28.66. Investar shares last traded at $28.71, with a volume of 203,296 shares trading hands.

Analyst Upgrades and Downgrades

ISTR has been the topic of several recent research reports. Wall Street Zen upgraded Investar from a “hold” rating to a “buy” rating in a report on Sunday, May 24th. Piper Sandler reissued a “neutral” rating and issued a $31.50 price objective on shares of Investar in a report on Thursday, April 23rd. Weiss Ratings upgraded shares of Investar from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. Finally, Zacks Research raised Investar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $31.50.

Investar Trading Up 2.0%

The business has a 50-day simple moving average of $28.89 and a 200-day simple moving average of $28.27. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. The company has a market cap of $407.49 million, a PE ratio of 12.96 and a beta of 0.45.

Investar (NASDAQ:ISTR) last announced its earnings results on Monday, April 20th. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.18. The company had revenue of $35.64 million during the quarter, compared to analysts’ expectations of $36.40 million. Investar had a return on equity of 10.62% and a net margin of 16.53%. On average, analysts predict that Investar Holding Corporation will post 3.1 EPS for the current fiscal year.

Investar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.12 per share. This is a positive change from Investar’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, June 30th. This represents a $0.48 annualized dividend and a yield of 1.6%. Investar’s dividend payout ratio (DPR) is currently 21.05%.

Institutional Investors Weigh In On Investar

A number of large investors have recently modified their holdings of ISTR. Empowered Funds LLC raised its stake in Investar by 7.2% in the first quarter. Empowered Funds LLC now owns 58,028 shares of the financial services provider’s stock valued at $1,022,000 after buying an additional 3,905 shares in the last quarter. Geode Capital Management LLC lifted its stake in Investar by 1.2% in the second quarter. Geode Capital Management LLC now owns 230,560 shares of the financial services provider’s stock valued at $4,455,000 after buying an additional 2,639 shares during the last quarter. Rhumbline Advisers boosted its stake in Investar by 12.8% during the 2nd quarter. Rhumbline Advisers now owns 10,451 shares of the financial services provider’s stock worth $202,000 after purchasing an additional 1,182 shares during the period. American Century Companies Inc. boosted its stake in shares of Investar by 6.9% during the second quarter. American Century Companies Inc. now owns 58,404 shares of the financial services provider’s stock worth $1,128,000 after buying an additional 3,757 shares during the period. Finally, Prudential Financial Inc. grew its stake in shares of Investar by 46.9% in the 2nd quarter. Prudential Financial Inc. now owns 17,960 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 5,738 shares during the last quarter. 50.17% of the stock is owned by hedge funds and other institutional investors.

Investar Company Profile

Investar Holdings, Inc is a bank holding company headquartered in Baton Rouge, Louisiana, operating through its primary subsidiary, Investar Bank. The company delivers commercial and consumer banking products across southeastern Louisiana and into select Texas markets, focusing on relationship-driven service. Investar Bank’s offerings include deposit accounts, lending solutions, online and mobile banking, and treasury management services.

Its lending portfolio encompasses commercial real estate financing, construction and development loans, commercial and industrial credits, agricultural loans, and residential mortgage originations.