Investar Holding Corporation (NASDAQ:ISTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $25.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 9.65% from the stock’s current price.
According to Zacks, “Investar Holding Corporation is a bank holding company for Investar Bank. It offers a range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses and professional concerns, as well as loans to individuals. The company accepts various deposit products, including savings, checking, money market, and NOW accounts, as well as various certificates of deposit and individual retirement accounts. It also provides cash management products and services, such as remote deposit capture, electronic statements, positive pay, ACH origination and wire transfer, investment sweep accounts, and business Internet banking, as well as debit cards and mobile banking services. Investar Holding Corporation is headquartered in Baton Rouge, Louisiana. “
ISTR has been the subject of several other research reports. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Investar Holding Corporation in a research note on Thursday. UBS AG cut shares of Investar Holding Corporation from an “outperform” rating to a “market perform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $22.00.
Shares of Investar Holding Corporation (NASDAQ:ISTR) opened at 22.80 on Friday. The firm has a market cap of $198.02 million, a PE ratio of 22.46 and a beta of 0.32. Investar Holding Corporation has a 52 week low of $15.00 and a 52 week high of $23.75. The firm’s 50-day moving average price is $22.85 and its 200 day moving average price is $21.88.
Investar Holding Corporation (NASDAQ:ISTR) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.01. Investar Holding Corporation had a net margin of 15.78% and a return on equity of 6.25%. The company had revenue of $10.10 million during the quarter, compared to the consensus estimate of $9.82 million. Equities analysts anticipate that Investar Holding Corporation will post $1.15 EPS for the current year.
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Several hedge funds have recently bought and sold shares of ISTR. Mesirow Financial Investment Management Equity Management purchased a new stake in Investar Holding Corporation during the first quarter valued at $462,000. Emerald Mutual Fund Advisers Trust raised its stake in Investar Holding Corporation by 63.4% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 257,712 shares of the financial services provider’s stock valued at $5,644,000 after buying an additional 100,000 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Investar Holding Corporation during the first quarter valued at $276,000. Stieven Capital Advisors L.P. purchased a new stake in Investar Holding Corporation during the first quarter valued at $2,190,000. Finally, Alliancebernstein L.P. raised its stake in Investar Holding Corporation by 52.8% in the first quarter. Alliancebernstein L.P. now owns 132,271 shares of the financial services provider’s stock valued at $2,897,000 after buying an additional 45,732 shares during the last quarter. 54.52% of the stock is owned by institutional investors.
About Investar Holding Corporation
Investar Holding Corporation is financial holding company that conducts its operations through, Investar Bank (the Bank), which is a commercial bank. The Company offers a range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses, as well as loans to individuals.
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