Investar (NASDAQ:ISTR) Downgraded to “Hold” Rating by Zacks Research

Investar (NASDAQ:ISTR) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

A number of other analysts have also commented on ISTR. Wall Street Zen upgraded shares of Investar from a “hold” rating to a “buy” rating in a research note on Sunday, May 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Investar in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.50.

Investar Stock Down 1.2%

Investar stock opened at $29.76 on Monday. The firm has a market cap of $410.09 million, a price-to-earnings ratio of 12.25 and a beta of 0.45. The stock has a fifty day simple moving average of $29.95 and a two-hundred day simple moving average of $28.87. Investar has a 12 month low of $21.43 and a 12 month high of $31.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39.

Investar (NASDAQ:ISTR) last announced its quarterly earnings results on Monday, July 20th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. Investar had a return on equity of 11.65% and a net margin of 17.55%.The firm had revenue of $36.55 million for the quarter, compared to the consensus estimate of $36.35 million. Equities analysts predict that Investar will post 3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Investar

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Investar during the second quarter valued at about $37,649,000. Fourthstone LLC lifted its holdings in Investar by 148.7% in the 4th quarter. Fourthstone LLC now owns 695,992 shares of the financial services provider’s stock worth $18,597,000 after purchasing an additional 416,145 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new position in Investar in the 2nd quarter worth approximately $5,057,000. Bank of New York Mellon Corp grew its holdings in Investar by 240.9% during the 1st quarter. Bank of New York Mellon Corp now owns 123,244 shares of the financial services provider’s stock valued at $3,361,000 after buying an additional 87,095 shares in the last quarter. Finally, AlTi Global Inc. bought a new stake in shares of Investar during the first quarter valued at approximately $2,370,000. Hedge funds and other institutional investors own 50.17% of the company’s stock.

About Investar

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.