Investar Holding Corporation (ISTR) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Investar Holding Corporation (NASDAQ:ISTR) from a buy rating to a hold rating in a research note released on Friday morning.

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. “

Several other research analysts have also recently issued reports on the stock. Raymond James Financial, Inc. reiterated a market perform rating on shares of Investar Holding Corporation in a report on Thursday, August 10th. UBS AG cut shares of Investar Holding Corporation from an outperform rating to a market perform rating in a report on Thursday, August 10th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Investar Holding Corporation currently has a consensus rating of Hold and a consensus target price of $24.50.

Shares of Investar Holding Corporation (ISTR) traded up 1.33% during midday trading on Friday, hitting $22.80. The stock had a trading volume of 34,481 shares. The firm has a 50 day moving average of $22.35 and a 200-day moving average of $22.29. The company has a market cap of $198.25 million, a P/E ratio of 22.46 and a beta of 0.33. Investar Holding Corporation has a one year low of $15.35 and a one year high of $23.75.

Investar Holding Corporation (NASDAQ:ISTR) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $10.10 million during the quarter, compared to the consensus estimate of $9.82 million. Investar Holding Corporation had a net margin of 15.78% and a return on equity of 5.94%. On average, analysts forecast that Investar Holding Corporation will post $1.15 earnings per share for the current fiscal year.

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Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in Investar Holding Corporation during the first quarter worth approximately $684,000. Stieven Capital Advisors L.P. boosted its holdings in Investar Holding Corporation by 18.4% during the second quarter. Stieven Capital Advisors L.P. now owns 118,400 shares of the financial services provider’s stock worth $2,711,000 after buying an additional 18,400 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Investar Holding Corporation during the first quarter worth approximately $835,000. RMB Capital Management LLC bought a new stake in Investar Holding Corporation during the first quarter worth approximately $2,975,000. Finally, Tudor Investment Corp ET AL bought a new stake in Investar Holding Corporation during the first quarter worth approximately $545,000. Hedge funds and other institutional investors own 61.01% of the company’s stock.

Investar Holding Corporation Company Profile

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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