Investar (NASDAQ:ISTR) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Investar (NASDAQ:ISTR) from a hold rating to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.

A number of other research firms have also recently weighed in on ISTR. Weiss Ratings upgraded shares of Investar from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. Piper Sandler reiterated a “neutral” rating and set a $31.50 price objective on shares of Investar in a research note on Thursday, April 23rd. Finally, Wall Street Zen raised shares of Investar from a “hold” rating to a “buy” rating in a research report on Sunday, May 24th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Investar has a consensus rating of “Buy” and an average target price of $31.50.

Investar Trading Up 0.9%

Shares of NASDAQ ISTR opened at $28.97 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $399.50 million, a P/E ratio of 12.71 and a beta of 0.45. Investar has a 1-year low of $20.99 and a 1-year high of $31.77. The business has a fifty day moving average price of $28.86 and a 200 day moving average price of $28.26.

Investar (NASDAQ:ISTR) last issued its quarterly earnings data on Monday, April 20th. The financial services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.18. The company had revenue of $35.64 million for the quarter, compared to the consensus estimate of $36.40 million. Investar had a return on equity of 10.62% and a net margin of 16.53%. Equities research analysts expect that Investar will post 3.1 EPS for the current fiscal year.

Investar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a $0.12 dividend. This is a boost from Investar’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Investar’s dividend payout ratio is currently 21.05%.

Hedge Funds Weigh In On Investar

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its stake in Investar by 440.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,899 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 2,363 shares during the period. Public Employees Retirement System of Ohio lifted its position in Investar by 69.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,691 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 1,100 shares during the period. BNP Paribas Financial Markets boosted its holdings in Investar by 24.9% in the third quarter. BNP Paribas Financial Markets now owns 3,341 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 666 shares during the last quarter. CWM LLC grew its position in Investar by 12.6% during the 4th quarter. CWM LLC now owns 3,442 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 384 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Investar by 12.8% during the 2nd quarter. Rhumbline Advisers now owns 10,451 shares of the financial services provider’s stock valued at $202,000 after buying an additional 1,182 shares during the last quarter. Institutional investors and hedge funds own 50.17% of the company’s stock.

About Investar

Investar Holdings, Inc is a bank holding company headquartered in Baton Rouge, Louisiana, operating through its primary subsidiary, Investar Bank. The company delivers commercial and consumer banking products across southeastern Louisiana and into select Texas markets, focusing on relationship-driven service. Investar Bank’s offerings include deposit accounts, lending solutions, online and mobile banking, and treasury management services.

Its lending portfolio encompasses commercial real estate financing, construction and development loans, commercial and industrial credits, agricultural loans, and residential mortgage originations.