Investar (NASDAQ:ISTR) Upgraded at StockNews.com

Investar (NASDAQ:ISTR - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Tuesday.

Separately, Piper Sandler upgraded Investar from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $21.00 to $22.00 in a research report on Tuesday.

Investar Price Performance

ISTR traded down $0.24 during midday trading on Tuesday, hitting $18.24. The stock had a trading volume of 23,210 shares, compared to its average volume of 44,638. The company has a market cap of $179.14 million, a P/E ratio of 8.94 and a beta of 0.52. Investar has a 1 year low of $14.60 and a 1 year high of $24.81. The business has a fifty day moving average of $17.42 and a 200 day moving average of $19.97. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 0.95.

Investar (NASDAQ:ISTR - Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.35 by $0.29. Investar had a net margin of 12.81% and a return on equity of 8.00%. The company had revenue of $20.25 million for the quarter, compared to analyst estimates of $19.90 million. As a group, equities analysts forecast that Investar will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Investar

Several hedge funds and other institutional investors have recently modified their holdings of ISTR. New York State Common Retirement Fund increased its holdings in Investar by 100.0% during the 4th quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 1,100 shares during the period. Copeland Capital Management LLC increased its stake in shares of Investar by 26.4% during the first quarter. Copeland Capital Management LLC now owns 3,001 shares of the financial services provider's stock valued at $53,000 after buying an additional 626 shares during the period. Wells Fargo & Company MN lifted its stake in Investar by 47.8% in the fourth quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider's stock worth $182,000 after acquiring an additional 2,688 shares during the period. Prudential Financial Inc. bought a new stake in Investar in the fourth quarter valued at $211,000. Finally, GAMMA Investing LLC increased its position in Investar by 3,194.4% during the 1st quarter. GAMMA Investing LLC now owns 1,779 shares of the financial services provider's stock valued at $310,000 after purchasing an additional 1,725 shares during the period. 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.