Investar (NASDAQ:ISTR) Price Target Lowered to $20.00 at Hovde Group

Investar (NASDAQ:ISTR) had its price target cut by stock analysts at Hovde Group from $20.50 to $20.00 in a report issued on Tuesday, MarketBeat reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price target indicates a potential upside of 23.23% from the stock’s current price.

Investar Stock Performance

Shares of Investar stock opened at $16.23 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $16.09 and a two-hundred day moving average price of $14.31. Investar has a 1-year low of $9.07 and a 1-year high of $17.99. The company has a market cap of $158.73 million, a P/E ratio of 9.07 and a beta of 0.77.

Investar (NASDAQ:ISTR) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. Investar had a return on equity of 8.25% and a net margin of 12.02%. The business had revenue of $20.25 million during the quarter, compared to analyst estimates of $20.84 million. As a group, analysts anticipate that Investar will post 1.32 EPS for the current year.

Hedge Funds Weigh In On Investar

A number of hedge funds have recently added to or reduced their stakes in ISTR. Barclays PLC boosted its stake in shares of Investar by 23.0% in the 3rd quarter. Barclays PLC now owns 13,166 shares of the financial services provider’s stock worth $139,000 after buying an additional 2,461 shares during the last quarter. AJOVista LLC purchased a new position in Investar in the fourth quarter valued at approximately $55,000. Stratos Wealth Partners LTD. purchased a new position in Investar in the fourth quarter valued at approximately $180,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Investar in the third quarter valued at approximately $149,000. Finally, Banc Funds Co. LLC lifted its stake in Investar by 2.9% in the fourth quarter. Banc Funds Co. LLC now owns 609,617 shares of the financial services provider’s stock valued at $9,089,000 after purchasing an additional 16,918 shares during the last quarter. Institutional investors and hedge funds own 50.17% of the company’s stock.

About Investar

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.