Investar (NASDAQ:ISTR) Downgraded to "Hold" Rating by StockNews.com

StockNews.com downgraded shares of Investar (NASDAQ:ISTR - Free Report) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Investar Trading Up 1.1 %

Shares of Investar stock traded up $0.24 during trading hours on Wednesday, reaching $21.26. 25,126 shares of the company's stock were exchanged, compared to its average volume of 42,928. The firm has a market capitalization of $208.96 million, a price-to-earnings ratio of 11.74 and a beta of 0.78. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. Investar has a 52-week low of $9.07 and a 52-week high of $21.58. The company has a fifty day moving average of $19.07 and a 200-day moving average of $17.21.

Investar (NASDAQ:ISTR - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.12. Investar had a return on equity of 7.07% and a net margin of 11.35%. The firm had revenue of $40.39 million for the quarter, compared to analyst estimates of $20.07 million. Sell-side analysts forecast that Investar will post 1.52 EPS for the current fiscal year.

Investar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from Investar's previous quarterly dividend of $0.10. Investar's dividend payout ratio (DPR) is 23.46%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Copeland Capital Management LLC acquired a new stake in Investar during the third quarter worth about $57,000. Rhumbline Advisers raised its holdings in Investar by 2,810.1% in the second quarter. Rhumbline Advisers now owns 10,622 shares of the financial services provider's stock valued at $164,000 after buying an additional 10,257 shares during the period. Hillsdale Investment Management Inc. acquired a new position in Investar during the first quarter valued at approximately $185,000. Ritholtz Wealth Management grew its stake in Investar by 92.3% during the second quarter. Ritholtz Wealth Management now owns 20,670 shares of the financial services provider's stock worth $318,000 after buying an additional 9,921 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Investar during the 2nd quarter valued at $329,000. 50.17% of the stock is owned by hedge funds and other 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.