StockNews.com Downgrades Investar (NASDAQ:ISTR) to Hold

Investar (NASDAQ:ISTR) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Sunday.

Separately, Piper Sandler initiated coverage on Investar in a research report on Friday, February 21st. They set a “neutral” rating and a $21.00 price target on the stock.

Investar Stock Performance

Shares of ISTR opened at $16.38 on Friday. 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 stock has a 50-day moving average price of $18.21 and a 200-day moving average price of $20.24. The company has a market cap of $160.95 million, a PE ratio of 8.03 and a beta of 0.52. Investar has a 12-month low of $14.60 and a 12-month high of $24.81.

Investar (NASDAQ:ISTR) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.26. Investar had a net margin of 12.81% and a return on equity of 8.00%. As a group, equities analysts forecast that Investar will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Investar

Several institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in Investar by 3,194.4% in the first quarter. GAMMA Investing LLC now owns 1,779 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 1,725 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Investar by 42.0% in the 4th quarter. Wellington Management Group LLP now owns 228,877 shares of the financial services provider’s stock valued at $5,026,000 after acquiring an additional 67,695 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Investar by 32.0% in the 4th quarter. Squarepoint Ops LLC now owns 18,720 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 4,534 shares during the last quarter. Millennium Management LLC purchased a new stake in Investar during the 4th quarter valued at about $651,000. Finally, Bridgeway Capital Management LLC grew its position in Investar by 1.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 145,888 shares of the financial services provider’s stock worth $3,204,000 after acquiring an additional 2,099 shares during the last quarter. Institutional investors own 50.17% of the company’s stock.

About Investar

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.