Invest (NASDAQ:ISTR) was updated by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, zacks.com reports. The company currently has a $21.00 price target on the financial services provider’s stock. Zacks Investment ResearchThe company’s target price would indicate a possible 11.17% rise from the current share price.
According to Zacks, “Investar Holding Corporation is a bank holding company of Investar Bank. It offers a range of retail and business lending products across all of its market areas, including business loans for small and medium-sized businesses and professional businesses, 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, and also offers cash management products and services, such as remote deposit capture, statements account, positive pay, ACH origination and wire transfers, 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.”
Several other research companies have also recently commented on ISTR. Piper Sandler downgraded shares of Investar from an “overweight” rating to a “neutral” rating and lowered the share price target from $27.00 to $20.00 in a research report on Friday, October 15. TheStreet downgraded Investar’s rating from a “b” rating to a “c” rating in a research report on Friday, October 22.
ISTR shares opened at $18.89 on Tuesday. Investar has a 12-month minimum of $15.66 and a 12-month maximum of $23.69. The company’s 50-day moving average price is $18.12. The firm has a debt-to-equity ratio of 0.51, a quick ratio of 0.95, and a current ratio of 0.95. The stock has a market capitalization of $195.38 million, a P/E ratio of 37.04, and a beta of 0.68.
Investar (NASDAQ:ISTR) last announced its quarterly earnings data on Wednesday, October 20. The financial services provider reported earnings per share (EPS) ($1.06) for the quarter, missing the Thomson Reuters consensus estimate of ($1.05) by ($0.01). The firm had revenue of $25.46 million in the quarter, compared to analyst estimates of $24.56 million. Investar had a net margin of 5.15% and a return on capital of 1.57%. Equity analysts predict that Investar will post 0.51 earnings per share for the current fiscal year.
Several large investors have recently changed their share holdings. Geode Capital Management LLC increased its position in Investar shares by 1.0% during the third quarter. Geode Capital Management LLC now owns 101,921 shares of the financial services provider worth $2,244,000 after purchasing an additional 1,004 shares during the period. Royal Bank of Canada increased its holdings in Investar shares by 18.7% during the second quarter. Royal Bank of Canada now owns 10,539 shares of the financial services provider valued at $241,000 after buying an additional 1,658 shares during the last quarter. Trexquant Investment LP increased its stake in Investar shares by 28.9% during the third quarter. Trexquant Investment LP now owns 11,270 shares of the financial services provider valued at $248,000 after buying an additional 2,530 shares last quarter. Marshall Wace LLP increased its holdings in Investar shares by 25.8% during the third quarter. Marshall Wace LLP now owns 25,990 shares of the financial services provider valued at $572,000 after buying an additional 5,330 shares during the last quarter. Finally, Morgan Stanley increased its stake in Investar shares by 42.6% during the second quarter. Morgan Stanley now owns 18,674 shares of the financial services provider valued at $428,000 after buying an additional 5,576 shares during the last quarter. 55.33% of the shares are owned by institutional investors and hedge funds.
Investar Holding Corp. is a financial holding company engaged in the provision of complete banking services. It offers a full range of retail and business loan products in all of its market areas, including business loans for small and medium-sized businesses, as well as loans for individuals. Its loan products consist of owner-occupied commercial real estate loans, construction loans, and commercial and industrial loans, such as term loans, equipment financing, and lines of credit, while its loans to individuals include first- and second-tier mortgage loans. second mortgage, installment loans and lines of credit
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For more information on Zacks Investment Research’s research offerings, visit zacks.com
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