Piper Sandler Begins Coverage on Investar (NASDAQ:ISTR)

Stock analysts at Piper Sandler assumed coverage on shares of Investar (NASDAQ:ISTR - Get Free Report) in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The brokerage set a "neutral" rating and a $21.00 price target on the financial services provider's stock. Piper Sandler's target price would indicate a potential upside of 13.15% from the stock's previous close.

Separately, StockNews.com lowered shares of Investar from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th.

Investar Stock Performance

NASDAQ:ISTR traded up $0.03 during midday trading on Friday, reaching $18.56. 30,461 shares of the company traded hands, compared to its average volume of 31,638. Investar has a twelve month low of $14.60 and a twelve month high of $24.81. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.95 and a quick ratio of 0.95. The company has a fifty day moving average price of $20.15 and a 200 day moving average price of $20.30. The firm has a market capitalization of $182.41 million, a price-to-earnings ratio of 9.10 and a beta of 0.79.

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Investar (NASDAQ:ISTR - Get Free Report) last posted its 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, analysts expect that Investar will post 1.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Investar

Institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund increased its holdings in Investar by 100.0% in the fourth quarter. New York State Common Retirement Fund now owns 2,200 shares of the financial services provider's stock worth $48,000 after buying an additional 1,100 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Investar by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 5,429 shares of the financial services provider's stock worth $105,000 after purchasing an additional 3,059 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Investar by 47.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,309 shares of the financial services provider's stock valued at $182,000 after purchasing an additional 2,688 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Investar in the 4th quarter valued at $211,000. Finally, Cornercap Investment Counsel Inc. bought a new stake in Investar in the third quarter worth $272,000. Institutional investors and hedge funds own 50.17% of the company's stock.

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.