Investar (ISTR) Cut to Hold at Zacks Investment Research

Investar (NASDAQ:ISTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, January 9th.

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. “

Several other analysts have also recently commented on the company. Hovde Group restated an “outperform” rating and issued a $28.00 price target on shares of Investar in a report on Friday, December 29th. Piper Jaffray Companies restated an “overweight” rating and issued a $26.00 price target on shares of Investar in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Investar presently has a consensus rating of “Buy” and a consensus price target of $27.00.

Investar (NASDAQ:ISTR) traded up $0.20 during trading on Tuesday, reaching $25.50. The company had a trading volume of 5,783 shares, compared to its average volume of 17,618. The stock has a market cap of $215.35, a PE ratio of 26.02 and a beta of 0.33. Investar has a 1 year low of $18.31 and a 1 year high of $25.55. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.18.

Investar (NASDAQ:ISTR) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Investar had a return on equity of 5.88% and a net margin of 14.88%. equities research analysts predict that Investar will post 1.1 EPS for the current fiscal year.

In other news, EVP Ryan P. Finnan sold 3,000 shares of Investar stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $23.70, for a total value of $71,100.00. Following the transaction, the executive vice president now directly owns 15,314 shares of the company’s stock, valued at approximately $362,941.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher L. Hufft sold 2,500 shares of Investar stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $23.15, for a total value 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 disclosure for this sale can be found here. Insiders bought a total of 1,032 shares of company stock worth $24,279 over the last ninety days. Corporate insiders own 8.83% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ISTR. Schwab Charles Investment Management Inc. acquired a new position in Investar during the 2nd quarter worth approximately $319,000. Bank of New York Mellon Corp acquired a new position in Investar during the 2nd quarter worth approximately $484,000. Kennedy Capital Management Inc. lifted its position in Investar by 3.2% during the 2nd quarter. Kennedy Capital Management Inc. now owns 41,696 shares of the financial services provider’s stock worth $955,000 after acquiring an additional 1,289 shares in the last quarter. Teachers Advisors LLC acquired a new position in Investar during the 2nd quarter worth approximately $328,000. Finally, TIAA CREF Investment Management LLC acquired a new position in Investar during the 2nd quarter worth approximately $495,000. 61.58% of the stock is currently owned by hedge funds and other institutional investors.

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About Investar

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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