Investar Holding Corp (ISTR) Rating Increased to Buy at Zacks Investment Research
Investar Holding Corp (NASDAQ:ISTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm presently has a $25.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 9.65% from the stock’s current price.
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. “
A number of other research firms have also commented on ISTR. Raymond James Financial, Inc. restated a “market perform” rating on shares of Investar Holding Corp in a research report on Thursday. UBS AG lowered shares of Investar Holding Corp from an “outperform” rating to a “market perform” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $22.00.
Shares of Investar Holding Corp (NASDAQ:ISTR) traded up 1.79% during trading on Friday, hitting $22.80. 24,417 shares of the stock traded hands. The company has a market cap of $198.02 million, a P/E ratio of 22.46 and a beta of 0.32. The stock has a 50-day moving average of $22.85 and a 200 day moving average of $21.88. Investar Holding Corp has a 1-year low of $15.00 and a 1-year high of $23.75.
Investar Holding Corp (NASDAQ:ISTR) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.01. Investar Holding Corp had a net margin of 19.03% and a return on equity of 5.16%. The firm had revenue of $10.10 million during the quarter, compared to the consensus estimate of $9.82 million. On average, equities research analysts predict that Investar Holding Corp will post $1.15 EPS for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in the stock. EJF Capital LLC purchased a new position in Investar Holding Corp during the first quarter worth approximately $11,990,000. Renaissance Technologies LLC purchased a new position in Investar Holding Corp during the first quarter worth approximately $684,000. RMB Capital Management LLC purchased a new position in Investar Holding Corp during the first quarter worth approximately $2,975,000. Mendon Capital Advisors Corp bought a new stake in shares of Investar Holding Corp during the first quarter worth $310,000. Finally, Globeflex Capital L P increased its stake in shares of Investar Holding Corp by 17,878.8% in the first quarter. Globeflex Capital L P now owns 11,866 shares of the financial services provider’s stock worth $260,000 after buying an additional 11,800 shares in the last quarter. Institutional investors own 54.52% of the company’s stock.
About Investar Holding Corp
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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