Investar (NASDAQ:ISTR) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Investar (NASDAQ:ISTR - Free Report) from a hold rating to a buy rating in a research note published on Thursday morning.

Separately, Piper Sandler began coverage on Investar in a report on Friday, February 21st. They set a "neutral" rating and a $21.00 price target on the stock.

Investar Stock Up 1.2 %

Shares of ISTR traded up $0.22 during mid-day trading on Thursday, hitting $17.95. 81,380 shares of the company's stock were exchanged, compared to its average volume of 41,785. 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 has a twelve month low of $14.60 and a twelve month high of $24.81. The firm has a fifty day moving average of $18.70 and a two-hundred day moving average of $20.30. The stock has a market cap of $176.38 million, a price-to-earnings ratio of 8.80 and a beta of 0.81.

Investar (NASDAQ:ISTR - Get Free Report) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.39 by $0.26. Investar had a net margin of 12.81% and a return on equity of 8.00%. On average, sell-side analysts forecast that Investar will post 1.83 earnings per share for the current year.

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Investar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.105 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.42 annualized dividend and a dividend yield of 2.34%. Investar's dividend payout ratio is presently 20.59%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund grew its stake in shares of Investar by 100.0% in the fourth quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider's stock worth $48,000 after acquiring an additional 1,100 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Investar by 129.1% in the 3rd 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 grew its position in Investar by 47.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider's stock worth $182,000 after purchasing an additional 2,688 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of Investar during the 4th quarter worth about $211,000. Finally, BNP Paribas Financial Markets raised its position in shares of Investar by 851.5% during the third quarter. BNP Paribas Financial Markets now owns 14,320 shares of the financial services provider's stock valued at $278,000 after buying an additional 12,815 shares during the last quarter. 50.17% of the stock is owned by institutional investors.

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.