Zacks Investment Research Lowers Investar Holding Corporation (ISTR) to Sell

Zacks Investment Research lowered shares of Investar Holding Corporation (NASDAQ:ISTR) from a hold rating to a sell rating in a research report sent to investors on Wednesday 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 equities analysts have also recently issued reports on the company. Piper Jaffray Companies reiterated an overweight rating and set a $26.00 price target on shares of Investar Holding Corporation in a research report on Thursday, October 5th. Raymond James Financial, Inc. reiterated a market perform rating on shares of Investar Holding Corporation in a research report on Thursday, August 10th. Finally, UBS Group AG (USA) cut Investar Holding Corporation from an outperform rating to a market perform rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $26.50.

Investar Holding Corporation (NASDAQ:ISTR) opened at $23.40 on Wednesday. The firm has a market capitalization of $201.95 million, a P/E ratio of 22.09 and a beta of 0.33. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.02 and a current ratio of 1.02.

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The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Wednesday, October 4th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, October 3rd. This is a boost from Investar Holding Corporation’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a dividend yield of 0.51%. Investar Holding Corporation’s dividend payout ratio (DPR) is 12.25%.

Several hedge funds have recently modified their holdings of ISTR. Alliancebernstein L.P. increased its position in shares of Investar Holding Corporation by 52.8% during the 1st quarter. Alliancebernstein L.P. now owns 132,271 shares of the financial services provider’s stock valued at $2,897,000 after purchasing an additional 45,732 shares during the period. Vanguard Group Inc. increased its position in shares of Investar Holding Corporation by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 277,190 shares of the financial services provider’s stock valued at $6,070,000 after purchasing an additional 4,300 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Investar Holding Corporation during the 1st quarter valued at $684,000. Tudor Investment Corp ET AL acquired a new position in shares of Investar Holding Corporation in the 1st quarter worth $545,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Investar Holding Corporation in the 1st quarter worth $835,000. Institutional investors own 61.02% of the company’s stock.

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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