Investar (NASDAQ:ISTR) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Investar (NASDAQ:ISTR) from a buy rating to a hold rating in a report published on Saturday.

Separately, Piper Sandler began coverage on Investar in a research report on Friday, February 21st. They set a “neutral” rating and a $21.00 price objective for the company.

Investar Stock Performance

NASDAQ:ISTR opened at $18.50 on Friday. The stock has a 50-day moving average price of $19.79 and a 200 day moving average price of $20.38. The stock has a market capitalization of $181.82 million, a P/E ratio of 9.07 and a beta of 0.79. Investar has a 12-month low of $14.60 and a 12-month high of $24.81. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85.

Investar (NASDAQ:ISTR) last released its quarterly earnings data 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%. Equities research analysts forecast that Investar will post 1.83 EPS for the current fiscal year.

Investar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Tuesday, December 31st. Investar’s payout ratio is 20.59%.

Institutional Investors Weigh In On Investar

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Investar by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 341,384 shares of the financial services provider’s stock valued at $7,497,000 after buying an additional 23,895 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Investar by 42.0% in the fourth quarter. Wellington Management Group LLP now owns 228,877 shares of the financial services provider’s stock valued at $5,026,000 after purchasing an additional 67,695 shares during the period. Russell Investments Group Ltd. grew its stake 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 worth $4,196,000 after purchasing an additional 68,027 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings 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 purchasing an additional 2,099 shares during the period. Finally, Rhino Investment Partners Inc raised its position in Investar by 383.8% during 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 purchasing an additional 115,387 shares in the last quarter. 50.17% of the stock is owned by institutional investors.

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.