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

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

Separately, Piper Sandler assumed coverage on Investar in a research note on Friday, February 21st. They issued a "neutral" rating and a $21.00 target price on the stock.

Investar Price Performance

Shares of ISTR remained flat at $17.41 during trading hours on Friday. The stock had a trading volume of 49,748 shares, compared to its average volume of 42,831. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85. The company has a market cap of $171.07 million, a price-to-earnings ratio of 8.53 and a beta of 0.81. The firm has a fifty day moving average of $18.38 and a 200 day moving average of $20.28. Investar has a one year low of $14.60 and a one year high of $24.81.

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

Institutional Investors Weigh In On Investar

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in Investar by 42.0% during the fourth quarter. Wellington Management Group LLP now owns 228,877 shares of the financial services provider's stock valued at $5,026,000 after buying an additional 67,695 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Investar by 32.0% during the 4th quarter. Squarepoint Ops LLC now owns 18,720 shares of the financial services provider's stock valued at $411,000 after acquiring an additional 4,534 shares during the last quarter. Millennium Management LLC bought a new position in shares of Investar in the 4th quarter valued at approximately $651,000. Bridgeway Capital Management LLC lifted its holdings 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 purchasing an additional 2,099 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Investar by 12.7% during the fourth quarter. BNP Paribas Financial Markets now owns 16,137 shares of the financial services provider's stock worth $354,000 after purchasing an additional 1,817 shares during the period. Institutional investors and hedge funds own 50.17% of the company's stock.

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.