Investar (NASDAQ:ISTR) Shares Cross Above 50 Day Moving Average – Here’s Why

Investar Holding Corporation (NASDAQ:ISTR)’s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $22.38 and traded as high as $22.76. Investar shares last traded at $22.62, with a volume of 32,500 shares trading hands.

Analysts Set New Price Targets

Separately, Piper Sandler increased their price objective on shares of Investar from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $27.00.

Investar Trading Down 0.8%

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. The firm has a market cap of $222.35 million, a PE ratio of 10.10 and a beta of 0.62. The company’s 50-day moving average is $22.38 and its 200 day moving average is $19.78.

Investar (NASDAQ:ISTR) last released its quarterly earnings data on Monday, July 21st. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07. The firm had revenue of $22.27 million for the quarter, compared to analyst estimates of $21.15 million. Investar had a net margin of 14.33% and a return on equity of 8.84%. As a group, sell-side analysts predict that Investar Holding Corporation will post 1.83 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC increased its stake in Investar by 26.4% in the 1st quarter. Copeland Capital Management LLC now owns 3,001 shares of the financial services provider’s stock valued at $53,000 after buying an additional 626 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Investar by 440.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,899 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 2,363 shares during the last quarter. Rhumbline Advisers increased its stake in shares of 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 last quarter. LSV Asset Management increased its stake in shares of Investar by 258.8% during the 2nd quarter. LSV Asset Management now owns 12,200 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 8,800 shares during the last quarter. Finally, Savant Capital LLC increased its stake in shares of Investar by 6.2% during the 2nd quarter. Savant Capital LLC now owns 13,247 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 776 shares during the last quarter. Institutional investors and hedge funds own 50.17% of the company’s stock.

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.