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

Investar (NASDAQ:ISTR) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Investar Stock Down 1.0 %

NASDAQ ISTR opened at $21.02 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.26. Investar has a 52 week low of $9.07 and a 52 week high of $21.35. The firm has a market capitalization of $206.61 million, a price-to-earnings ratio of 11.74 and a beta of 0.78. The company has a fifty day moving average of $19.07 and a two-hundred day moving average of $17.21.

Investar (NASDAQ:ISTR) last released its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12. The firm had revenue of $40.39 million during the quarter, compared to analysts’ expectations of $20.07 million. Investar had a net margin of 11.35% and a return on equity of 7.07%. On average, analysts predict that Investar will post 1.52 earnings per share for the current year.

Institutional Trading of Investar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Copeland Capital Management LLC purchased a new stake in shares of Investar during the third quarter valued at $57,000. Rhumbline Advisers boosted its position in Investar by 2,810.1% in the 2nd quarter. Rhumbline Advisers now owns 10,622 shares of the financial services provider’s stock valued at $164,000 after buying an additional 10,257 shares during the period. Hillsdale Investment Management Inc. bought a new position in Investar in the 1st quarter worth about $185,000. Ritholtz Wealth Management increased its position in shares of Investar by 92.3% during the second quarter. Ritholtz Wealth Management now owns 20,670 shares of the financial services provider’s stock worth $318,000 after acquiring an additional 9,921 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Investar during the second quarter valued at approximately $329,000. Hedge funds and other 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.