Investar (NASDAQ:ISTR) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Investar (NASDAQ:ISTR) from a hold rating to a buy rating in a research note published on Tuesday.

Separately, Piper Sandler upgraded Investar from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $21.00 to $22.00 in a report on Tuesday.

Investar Stock Up 8.2 %

Shares of NASDAQ:ISTR opened at $18.37 on Tuesday. The company has a market cap of $180.41 million, a price-to-earnings ratio of 9.00 and a beta of 0.52. Investar has a fifty-two week low of $14.60 and a fifty-two week high of $24.81. The firm’s 50-day simple moving average is $17.46 and its 200-day simple moving average is $19.98. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.85.

Investar (NASDAQ:ISTR) last issued its earnings results on Monday, April 21st. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.29. The company had revenue of $20.25 million for the quarter, compared to analyst estimates of $19.90 million. Investar had a net margin of 12.81% and a return on equity of 8.00%. As a group, equities research analysts predict that Investar will post 1.83 earnings per share for the current year.

Investar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, March 31st. Investar’s dividend payout ratio (DPR) is 20.59%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Rhino Investment Partners Inc lifted its stake in Investar by 383.8% during the fourth quarter. Rhino Investment Partners Inc now owns 145,448 shares of the financial services provider’s stock worth $3,194,000 after purchasing an additional 115,387 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Investar by 55.3% during the fourth quarter. Russell Investments Group Ltd. now owns 191,093 shares of the financial services provider’s stock worth $4,196,000 after purchasing an additional 68,027 shares during the period. Wellington Management Group LLP lifted its position 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 worth $5,026,000 after buying an additional 67,695 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Investar in the 4th quarter valued at about $651,000. Finally, O Shaughnessy Asset Management LLC grew its position in shares of 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 buying an additional 27,254 shares during the last quarter. Hedge funds and other institutional investors 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.