Investar (ISTR) Stock Rating Lowered by ValuEngine

Investar (NASDAQ:ISTR) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Friday.

Separately, Zacks Investment Research downgraded shares of Investar from a “hold” rating to a “sell” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $29.50.

NASDAQ ISTR traded down $0.27 during trading hours on Friday, reaching $23.00. 51,600 shares of the company traded hands, compared to its average volume of 13,184. Investar has a 12 month low of $19.49 and a 12 month high of $29.90. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $223.47 million, a price-to-earnings ratio of 14.02 and a beta of 0.21.

Investar (NASDAQ:ISTR) last posted its quarterly earnings data on Monday, January 28th. The financial services provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. Investar had a net margin of 17.40% and a return on equity of 9.09%. The firm had revenue of $15.64 million for the quarter, compared to the consensus estimate of $15.93 million. As a group, analysts anticipate that Investar will post 1.92 EPS for the current year.

In other Investar news, Director Andrew C. Nelson purchased 2,000 shares of Investar stock in a transaction dated Thursday, January 31st. The shares were bought at an average cost of $24.03 per share, for a total transaction of $48,060.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders bought 2,383 shares of company stock worth $57,135. Insiders own 9.07% of the company’s stock.

Several institutional investors have recently bought and sold shares of ISTR. Geode Capital Management LLC grew its stake in shares of Investar by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 78,519 shares of the financial services provider’s stock worth $1,947,000 after purchasing an additional 6,566 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Investar by 14.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 98,910 shares of the financial services provider’s stock worth $2,453,000 after acquiring an additional 12,620 shares in the last quarter. Penn Capital Management Co. Inc. increased its position in shares of Investar by 5.5% in the fourth quarter. Penn Capital Management Co. Inc. now owns 60,687 shares of the financial services provider’s stock worth $1,505,000 after acquiring an additional 3,187 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in shares of Investar in the fourth quarter worth approximately $82,000. Finally, MetLife Investment Advisors LLC purchased a new position in shares of Investar in the fourth quarter worth approximately $112,000. Institutional investors own 58.13% of the company’s stock.

About Investar

Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products for individuals and small to medium-sized businesses in South Louisiana. The company offers various deposit products and services, such as savings, checking, money market, NOW, and individual retirement accounts, as well as various certificates of deposit; debit cards; and mobile banking services.

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