StockNews.com Upgrades Investar (NASDAQ:ISTR) to Buy

Investar (NASDAQ:ISTR) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

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

Investar Trading Up 2.1 %

ISTR opened at $17.73 on Thursday. The stock has a market capitalization of $174.21 million, a P/E ratio of 8.69 and a beta of 0.81. Investar has a 12 month low of $14.60 and a 12 month high of $24.81. The firm’s fifty day simple moving average is $18.73 and its 200 day simple moving average is $20.28. 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 issued its quarterly 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, research analysts anticipate that Investar will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ISTR. Rhino Investment Partners Inc grew its stake in 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 last quarter. Russell Investments Group Ltd. grew its stake in Investar by 55.3% in the 4th quarter. Russell Investments Group Ltd. now owns 191,093 shares of the financial services provider’s stock valued at $4,196,000 after buying an additional 68,027 shares during the last quarter. Wellington Management Group LLP grew its stake in 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 buying an additional 67,695 shares during the last quarter. Millennium Management LLC acquired a new position in Investar in the 4th quarter valued at about $651,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Investar in the 3rd quarter valued at about $572,000. Institutional investors and hedge funds 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.