Investar (NASDAQ:ISTR) Coverage Initiated at Piper Sandler

Investment analysts at Piper Sandler initiated coverage on shares of Investar (NASDAQ:ISTR) in a report issued on Friday, MarketBeat.com reports. The firm set a “neutral” rating and a $21.00 price target on the financial services provider’s stock. Piper Sandler’s target price points to a potential upside of 13.15% from the company’s current price.

Separately, StockNews.com lowered Investar from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

Investar Price Performance

Investar stock opened at $18.56 on Friday. The firm’s 50-day simple moving average is $20.24 and its 200 day simple moving average is $20.23. Investar has a 52 week low of $14.60 and a 52 week high of $24.81. The firm has a market capitalization of $182.41 million, a PE ratio of 9.10 and a beta of 0.79. 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 Thursday, January 23rd. The financial services provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.26. Investar had a return on equity of 8.00% and a net margin of 12.81%. On average, equities research analysts predict that Investar will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ISTR. New York State Common Retirement Fund increased its holdings in shares of Investar by 100.0% during the fourth quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,100 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Investar by 129.1% during the third quarter. MetLife Investment Management LLC now owns 5,429 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 3,059 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Investar by 47.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 2,688 shares during the period. Prudential Financial Inc. acquired a new position in shares of Investar during the fourth quarter valued at $211,000. Finally, Cornercap Investment Counsel Inc. acquired a new position in shares of Investar during the third quarter valued at $272,000. 50.17% of the stock is owned by institutional investors and hedge funds.

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.