Investar (NASDAQ:ISTR) Upgraded by Piper Sandler to “Overweight” Rating

Investar (NASDAQ:ISTR) was upgraded by investment analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $22.00 target price on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 29.56% from the company’s current price.

Separately, StockNews.com cut shares of Investar from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th.

Investar Trading Up 4.8 %

ISTR stock opened at $16.98 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85. The firm has a market cap of $166.76 million, a P/E ratio of 8.32 and a beta of 0.52. Investar has a 1-year low of $14.60 and a 1-year high of $24.81. The business’s 50 day moving average is $17.48 and its 200-day moving average is $20.00.

Investar (NASDAQ:ISTR) last issued its quarterly earnings data on Monday, April 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.29. Investar had a return on equity of 8.00% and a net margin of 12.81%. The company had revenue of $20.25 million during the quarter, compared to analysts’ expectations of $19.90 million. Equities analysts anticipate that Investar will post 1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Rhino Investment Partners Inc increased its stake in shares of Investar by 383.8% in 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 buying an additional 115,387 shares during the period. Russell Investments Group Ltd. boosted its holdings in Investar by 55.3% in 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 acquiring an additional 68,027 shares during the last quarter. Wellington Management Group LLP increased its position in Investar by 42.0% in the fourth quarter. Wellington Management Group LLP now owns 228,877 shares of the financial services provider’s stock worth $5,026,000 after purchasing an additional 67,695 shares during the period. Millennium Management LLC bought a new stake in Investar during the 4th quarter worth about $651,000. Finally, O Shaughnessy Asset Management LLC lifted its position in Investar by 38.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 98,293 shares of the financial services provider’s stock valued at $2,159,000 after purchasing an additional 27,254 shares during the period. 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.