Investar (NASDAQ:ISTR) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Investar (NASDAQ:ISTR) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks reports.

Other equities analysts have also issued reports about the stock. Weiss Ratings restated a “buy (b)” rating on shares of Investar in a research report on Thursday, August 27th. Wall Street Zen upgraded Investar from a “hold” rating to a “buy” rating in a research report on Sunday, May 24th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.50.

Investar Trading Down 1.2%

Shares of Investar stock opened at $29.76 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $410.09 million, a P/E ratio of 12.25 and a beta of 0.45. Investar has a fifty-two week low of $21.43 and a fifty-two week high of $31.77. The firm has a 50-day simple moving average of $29.95 and a two-hundred day simple moving average of $28.87.

Investar (NASDAQ:ISTR) last released its quarterly earnings data on Monday, July 20th. The financial services provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The company had revenue of $36.55 million for the quarter, compared to analyst estimates of $36.35 million. Investar had a return on equity of 11.65% and a net margin of 17.55%. As a group, equities analysts predict that Investar will post 3.15 earnings per share for the current fiscal year.

Investar Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were given a dividend of $0.12 per share. This is an increase from Investar’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, June 30th. Investar’s payout ratio is currently 19.75%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ISTR. CWM LLC raised its holdings in shares of Investar by 12.6% during the fourth quarter. CWM LLC now owns 3,442 shares of the financial services provider’s stock valued at $92,000 after buying an additional 384 shares during the last quarter. Steel Grove Capital Advisors LLC grew its stake in shares of Investar by 1.0% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 46,434 shares of the financial services provider’s stock worth $1,241,000 after purchasing an additional 443 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Investar by 24.9% during the third 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 during the period. Bridgeway Capital Management LLC lifted its holdings in Investar by 0.6% in the second quarter. Bridgeway Capital Management LLC now owns 139,156 shares of the financial services provider’s stock worth $2,688,000 after purchasing an additional 763 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in Investar by 69.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,691 shares of the financial services provider’s stock valued at $72,000 after buying an additional 1,100 shares in the last quarter. Institutional investors own 50.17% of the company’s stock.

Investar Company Profile

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.