StockNews.com Upgrades Investar (NASDAQ:ISTR) to "Buy"

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

Investar Stock Up 1.4 %

NASDAQ ISTR traded up $0.28 during mid-day trading on Tuesday, reaching $20.17. The stock had a trading volume of 15,314 shares, compared to its average volume of 43,321. The company has a fifty day moving average price of $18.67 and a 200 day moving average price of $17.03. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.98 and a quick ratio of 0.98. Investar has a 1 year low of $9.07 and a 1 year high of $21.03. The stock has a market cap of $198.25 million, a PE ratio of 11.27 and a beta of 0.78.

Investar (NASDAQ:ISTR - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.12. Investar had a return on equity of 6.69% and a net margin of 10.04%. The firm had revenue of $40.39 million during the quarter, compared to analysts' expectations of $20.07 million. On average, research analysts expect that Investar will post 1.52 earnings per share for the current year.

Institutional Investors Weigh In On Investar

A number of hedge funds have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC bought a new stake in shares of Investar in the third quarter worth $57,000. Ritholtz Wealth Management grew its stake in shares of Investar by 88.9% during the 3rd quarter. Ritholtz Wealth Management now owns 39,037 shares of the financial services provider's stock valued at $757,000 after purchasing an additional 18,367 shares during the period. Renaissance Technologies LLC increased its position in shares of Investar by 34.4% during the 2nd quarter. Renaissance Technologies LLC now owns 30,075 shares of the financial services provider's stock valued at $463,000 after purchasing an additional 7,700 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Investar by 14.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 251,235 shares of the financial services provider's stock worth $3,869,000 after purchasing an additional 31,589 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Investar in the second quarter worth approximately $329,000. 50.17% of the stock is currently owned by hedge funds and other 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.

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