Investar (NASDAQ:ISTR) has been assigned a $28.50 price target by equities researchers at Piper Jaffray Companies in a report released on Friday, TipRanks reports. The firm presently has a “buy” rating on the financial services provider’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 15.71% from the company’s previous close. Piper Jaffray Companies also issued estimates for Investar’s Q4 2019 earnings at $0.47 EPS, FY2019 earnings at $1.87 EPS, Q1 2021 earnings at $0.60 EPS, Q2 2021 earnings at $0.61 EPS, Q3 2021 earnings at $0.62 EPS and FY2021 earnings at $2.48 EPS.
Several other research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Investar from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research downgraded shares of Investar from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Raymond James raised shares of Investar from a “market perform” rating to an “outperform” rating in a research note on Monday, July 8th. Finally, DA Davidson reaffirmed a “buy” rating on shares of Investar in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $27.83.
ISTR stock traded up $0.75 during trading on Friday, hitting $24.63. The stock had a trading volume of 30 shares, compared to its average volume of 11,439. The company’s 50 day moving average price is $23.68 and its two-hundred day moving average price is $23.49. Investar has a 1-year low of $19.49 and a 1-year high of $26.49. The stock has a market cap of $237.57 million, a price-to-earnings ratio of 14.99 and a beta of 0.16. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.02 and a current ratio of 1.02.
Investar (NASDAQ:ISTR) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. Investar had a net margin of 18.44% and a return on equity of 9.45%. The firm had revenue of $17.98 million during the quarter, compared to the consensus estimate of $18.18 million. As a group, sell-side analysts forecast that Investar will post 1.9 earnings per share for the current fiscal year.
In other news, CEO John J. D’angelo sold 4,671 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $23.50, for a total transaction of $109,768.50. Following the completion of the transaction, the chief executive officer now owns 158,563 shares of the company’s stock, valued at approximately $3,726,230.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ryan P. Finnan sold 1,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $23.37, for a total transaction of $35,055.00. Following the transaction, the executive vice president now directly owns 16,769 shares of the company’s stock, valued at approximately $391,891.53. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,857 shares of company stock valued at $160,602. Corporate insiders own 9.64% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Maltese Capital Management LLC increased its position in Investar by 61.2% during the 2nd quarter. Maltese Capital Management LLC now owns 354,548 shares of the financial services provider’s stock worth $8,456,000 after purchasing an additional 134,548 shares in the last quarter. Wasatch Advisors Inc. increased its position in Investar by 45.5% during the 2nd quarter. Wasatch Advisors Inc. now owns 204,026 shares of the financial services provider’s stock worth $4,866,000 after purchasing an additional 63,799 shares in the last quarter. Banc Funds Co. LLC increased its position in Investar by 8.1% during the 2nd quarter. Banc Funds Co. LLC now owns 496,881 shares of the financial services provider’s stock worth $11,851,000 after purchasing an additional 37,171 shares in the last quarter. BlackRock Inc. increased its position in Investar by 8.3% during the 2nd quarter. BlackRock Inc. now owns 461,976 shares of the financial services provider’s stock worth $11,019,000 after purchasing an additional 35,539 shares in the last quarter. Finally, Hubbell Strickland Wealth Management LLC acquired a new stake in Investar during the 3rd quarter worth approximately $407,000. 53.61% of the stock is owned by 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 for individuals and small to medium-sized businesses in South Louisiana. 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 cards; and mobile banking services.
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