Investar (ISTR) Sets New 52-Week High at $24.60
Investar Holding Corp (NASDAQ:ISTR) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $24.60 and last traded at $24.50, with a volume of 15000 shares trading hands. The stock had previously closed at $24.10.
A number of brokerages have issued reports on ISTR. Zacks Investment Research cut Investar from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Piper Jaffray Companies reiterated an “overweight” rating and set a $26.00 price objective on shares of Investar in a research note on Thursday, October 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.50.
The firm has a market capitalization of $213.61, a P/E ratio of 23.33 and a beta of 0.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.18.
Several hedge funds have recently bought and sold shares of ISTR. State Street Corp purchased a new position in shares of Investar in the second quarter worth $2,510,000. Northern Trust Corp purchased a new position in shares of Investar in the second quarter worth $2,114,000. Vanguard Group Inc. raised its stake in shares of Investar by 32.3% in the second quarter. Vanguard Group Inc. now owns 366,623 shares of the financial services provider’s stock worth $8,396,000 after purchasing an additional 89,433 shares during the last quarter. Banc Funds Co. LLC raised its stake in shares of Investar by 14.0% in the second quarter. Banc Funds Co. LLC now owns 594,513 shares of the financial services provider’s stock worth $13,614,000 after purchasing an additional 73,200 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Investar during the first quarter valued at $684,000. Hedge funds and other institutional investors own 61.58% of the company’s stock.
Investar Company Profile
Investar Holding Corporation is financial holding company that conducts its operations through, Investar Bank (the Bank), which is a commercial bank. The Company offers a range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses, as well as loans to individuals.
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