Investar Holding Corporation (NASDAQ:ISTR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, November 1st.
According to Zacks, “Investar Holding Corporation is a bank holding company for Investar Bank. It offers a range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses and professional concerns, as well as loans to individuals. The company accepts various deposit products, including savings, checking, money market, and NOW accounts, as well as various certificates of deposit and individual retirement accounts. It also provides cash management products and services, such as remote deposit capture, electronic statements, positive pay, ACH origination and wire transfer, investment sweep accounts, and business Internet banking, as well as debit cards and mobile banking services. Investar Holding Corporation is headquartered in Baton Rouge, Louisiana. “
Other research analysts have also issued reports about the company. Raymond James Financial, Inc. restated a “market perform” rating on shares of Investar Holding Corporation in a research note on Thursday, August 10th. UBS AG lowered Investar Holding Corporation from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 10th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $26.00 price objective on shares of Investar Holding Corporation in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $26.50.
Shares of Investar Holding Corporation (ISTR) traded up $0.05 during midday trading on Wednesday, hitting $23.45. The company had a trading volume of 3,277 shares, compared to its average volume of 21,376. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $204.02, a price-to-earnings ratio of 22.29 and a beta of 0.33. Investar Holding Corporation has a twelve month low of $17.05 and a twelve month high of $24.40.
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In other Investar Holding Corporation news, CFO Christopher L. Hufft sold 2,500 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $23.15, for a total transaction of $57,875.00. Following the completion of the transaction, the chief financial officer now directly owns 23,356 shares in the company, valued at $540,691.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 1,045 shares of company stock valued at $24,282 over the last quarter. Corporate insiders own 9.82% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ISTR. Nationwide Fund Advisors acquired a new position in Investar Holding Corporation during the second quarter worth $104,000. The Manufacturers Life Insurance Company acquired a new position in Investar Holding Corporation during the second quarter worth $190,000. New York State Common Retirement Fund acquired a new position in Investar Holding Corporation during the second quarter worth $202,000. Spark Investment Management LLC acquired a new position in Investar Holding Corporation during the second quarter worth $203,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Investar Holding Corporation during the second quarter worth $226,000. Hedge funds and other institutional investors own 62.39% of the company’s stock.
About Investar Holding Corporation
Investar Holding Corporation is financial holding company that conducts its operations through, Investar Bank (the Bank), which is a commercial bank. The Company offers a range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses, as well as loans to individuals.
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