Investar (NASDAQ:ISTR) Upgraded at Zacks Research

Zacks Research upgraded shares of Investar (NASDAQ:ISTR) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other research firms have also commented on ISTR. Weiss Ratings restated a “buy (b-)” rating on shares of Investar in a research report on Monday, December 29th. Piper Sandler raised their target price on Investar to $29.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat, Investar currently has a consensus rating of “Buy” and a consensus target price of $29.00.

Investar Stock Up 1.6%

Shares of ISTR stock opened at $28.21 on Tuesday. Investar has a twelve month low of $15.39 and a twelve month high of $31.77. The stock has a market cap of $276.74 million, a P/E ratio of 13.18 and a beta of 0.54. The stock has a 50 day moving average of $26.74 and a 200 day moving average of $24.20. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.29.

Investar (NASDAQ:ISTR) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The business had revenue of $23.93 million for the quarter, compared to analysts’ expectations of $37.35 million. Investar had a net margin of 14.92% and a return on equity of 9.31%. As a group, sell-side analysts expect that Investar will post 1.83 EPS for the current year.

Investar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.6%. Investar’s payout ratio is currently 20.56%.

Insider Buying and Selling at Investar

In related news, CEO John J. D’angelo sold 26,163 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $28.01, for a total value of $732,825.63. Following the transaction, the chief executive officer directly owned 242,750 shares of the company’s stock, valued at approximately $6,799,427.50. This trade represents a 9.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Investar

Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in shares of Investar by 440.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,899 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 2,363 shares in the last quarter. CWM LLC raised its stake in Investar by 19.5% in the 3rd quarter. CWM LLC now owns 3,058 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 499 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Investar by 24.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,341 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 666 shares in the last quarter. Copeland Capital Management LLC lifted its holdings in Investar by 16.4% in the 2nd quarter. Copeland Capital Management LLC now owns 3,492 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 491 shares in the last quarter. Finally, James Investment Research Inc. acquired a new stake in Investar during the 4th quarter worth $236,000. 50.17% of the stock is currently owned by hedge funds and other institutional investors.

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.