Investar (NASDAQ:ISTR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Investar (NASDAQ:ISTR) from a hold rating to a buy rating in a report published on Sunday,Wall Street Zen reports.

ISTR has been the topic of a number of other reports. Weiss Ratings reissued a “buy (b)” rating on shares of Investar in a research report on Thursday, August 27th. Zacks Research cut shares of Investar from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Investar presently has an average rating of “Hold” and a consensus target price of $31.50.

Investar Price Performance

Shares of ISTR stock opened at $30.77 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 0.95. Investar has a fifty-two week low of $21.43 and a fifty-two week high of $31.77. The firm has a market cap of $423.92 million, a P/E ratio of 12.66 and a beta of 0.45. The business’s 50 day moving average price is $30.17 and its 200-day moving average price is $28.97.

Investar (NASDAQ:ISTR) last announced its earnings results on Monday, July 20th. The financial services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. Investar had a return on equity of 11.65% and a net margin of 17.55%.The company had revenue of $36.55 million during the quarter, compared to the consensus estimate of $36.35 million. On average, equities research analysts anticipate that Investar will post 3.15 earnings per share for the current year.

Institutional Investors Weigh In On Investar

Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc purchased a new stake in shares of Investar in the 2nd quarter worth about $38,000. Sequoia Financial Advisors LLC purchased a new position in Investar during the 2nd quarter valued at about $210,000. AXQ Capital LP purchased a new position in Investar during the 2nd quarter valued at about $212,000. Susquehanna Fundamental Investments LLC purchased a new position in Investar during the 2nd quarter valued at about $230,000. Finally, Geneos Wealth Management Inc. bought a new stake in Investar during the first quarter worth about $321,000. 50.17% of the stock is currently owned by institutional investors.

Investar Company Profile

Investar Holding Corporation is a bank holding company headquartered in Baton Rouge, Louisiana. Its principal subsidiary, Investar Bank, is a community bank that provides banking and financial services to individuals, businesses and institutions.

Investar Bank offers deposit products, including checking, savings, money market and certificate of deposit accounts, along with lending services. Its loan activities include commercial and industrial loans, commercial real estate and construction financing, residential mortgage loans and consumer credit.