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

Investar (NASDAQ:ISTR - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a report issued on Saturday.

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

Investar Price Performance

ISTR stock traded down $0.72 during mid-day trading on Friday, hitting $17.78. The company had a trading volume of 38,983 shares, compared to its average volume of 31,202. The company has a market capitalization of $174.74 million, a price-to-earnings ratio of 8.72 and a beta of 0.79. Investar has a 12-month low of $14.60 and a 12-month high of $24.81. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average price of $19.70 and a 200 day moving average price of $20.38.

Investar (NASDAQ:ISTR - Get Free Report) last announced its quarterly 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, research analysts anticipate that Investar will post 1.83 earnings per share for the current year.

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Hedge Funds Weigh In On Investar

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in Investar by 7.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 341,384 shares of the financial services provider's stock valued at $7,497,000 after purchasing an additional 23,895 shares during the last quarter. Wellington Management Group LLP grew its stake in Investar by 42.0% in the 4th quarter. Wellington Management Group LLP now owns 228,877 shares of the financial services provider's stock worth $5,026,000 after acquiring an additional 67,695 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Investar by 55.3% in the 4th quarter. Russell Investments Group Ltd. now owns 191,093 shares of the financial services provider's stock worth $4,196,000 after acquiring an additional 68,027 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in Investar by 1.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 145,888 shares of the financial services provider's stock worth $3,204,000 after acquiring an additional 2,099 shares in the last quarter. Finally, Rhino Investment Partners Inc grew its stake in Investar by 383.8% in the 4th quarter. Rhino Investment Partners Inc now owns 145,448 shares of the financial services provider's stock worth $3,194,000 after acquiring an additional 115,387 shares in the last quarter. 50.17% of the stock is currently owned by institutional investors.

Investar Company Profile

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.