Investar (NASDAQ: ISTR) raised to “hold” at Zacks Investment Research

Investor (NASDAQ: ISTR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “conservation” rating in a research note issued Thursday to investors, reports.

According to Zacks, “Investar Holding Corporation is a banking holding company for Investar Bank. It offers a range of commercial and retail loan products in all of its market segments, including commercial loans to small and medium-sized businesses and professional businesses, as well as personal loans. The company accepts a variety of 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, account statements, positive payment, ACH issuance and wire transfer, investment transfer accounts and business internet banking, as well as debit cards and mobile banking. Investar Holding Corporation is headquartered in Baton Rouge, Louisiana. “

ISTR has been the subject of a number of other research reports. Piper Sandler downgraded Investar’s stock rating from “overweight” to “neutral” and lowered their target price for the stock from $ 27.00 to $ 20.00 in a research note on Friday October 15. TheStreet downgraded Investar’s stock rating from a “b” rating to a “c” rating in a Friday October 22nd research note.

Investar stock opened at $ 17.41 on Thursday. Investar has a twelve month low of $ 15.66 and a twelve month high of $ 23.69. The fifty-day moving average for the stock is $ 18.75. The company has a quick ratio of 0.95, a current ratio of 0.95, and a debt ratio of 0.51. The stock has a market cap of $ 180.02 million, a price-to-earnings ratio of 34.14 and a beta of 0.67.

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Investar (NASDAQ: ISTR) last released its quarterly earnings data on Wednesday, October 20. The financial services provider reported ($ 1.06) earnings per share for the quarter, missing analyst consensus estimates of ($ 1.05) by ($ 0.01). Investar recorded a return on equity of 1.57% and a net margin of 5.15%. The company posted revenue of $ 25.46 million for the quarter, compared to analysts’ expectations of $ 24.56 million. On average, equity research analysts expect Investar to post 0.51 EPS for the current year.

A number of hedge funds and other institutional investors have recently increased or reduced their holdings in ISTR. Fourthstone LLC increased its stake in Investar by 576.9% in the second quarter. Fourthstone LLC now owns 619,984 shares of the financial services provider valued at $ 14,266,000 after acquiring an additional 528,393 shares in the last quarter. Kennedy Capital Management Inc. increased its stake in Investar shares by 269.7% during the second quarter. Kennedy Capital Management Inc. now owns 250,437 shares of the financial services provider valued at $ 5,733,000 after purchasing an additional 182,701 shares during the period. Millennium Management LLC increased its stake in Investar shares by 476.9% during the second quarter. Millennium Management LLC now owns 136,044 shares of the financial services provider valued at $ 3,114,000 after purchasing an additional 112,463 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new equity interest in Investar during the third quarter valued at approximately $ 2,228,000. Finally, Russell Investments Group Ltd. increased its stake in Investar shares by 823.5% during the second quarter. Russell Investments Group Ltd. now owns 111,396 shares of the financial services provider valued at $ 2,547,000 after purchasing an additional 99,334 shares during the period. Institutional investors own 54.99% of the company’s shares.

Profile of the investor company

Investar Holding Corp. is a financial holding company which provides full banking services. It offers a full range of commercial and retail lending products in its market areas, including loans to small and medium businesses as well as personal loans. Its lending products include owner-occupied commercial real estate loans, construction loans, and commercial and industrial loans, such as term loans, equipment finance and lines of credit, while its personal loans include first and second mortgages, installment loans and lines of credit.

Feature article: Understanding the price-to-earnings (PE) ratio

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