Investar Holding Corporation (ISTR) Lowered to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Investar Holding Corporation (NASDAQ:ISTR) from a buy rating to a hold rating in a research report released on Wednesday.
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 equities analysts have also recently issued reports on ISTR. UBS AG cut shares of Investar Holding Corporation from an outperform rating to a market perform rating in a research report on Thursday, August 10th. Raymond James Financial, Inc. restated a market perform rating on shares of Investar Holding Corporation in a research report on Thursday, August 10th. Finally, Piper Jaffray Companies restated an overweight rating and set a $26.00 target price on shares of Investar Holding Corporation in a research report on Thursday, October 5th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $26.50.
Shares of Investar Holding Corporation (NASDAQ ISTR) traded down 2.28% during mid-day trading on Wednesday, reaching $23.55. 16,178 shares of the company traded hands. Investar Holding Corporation has a 52 week low of $15.44 and a 52 week high of $24.40. The stock’s 50-day moving average is $22.95 and its 200-day moving average is $22.63. The company has a market capitalization of $204.77 million, a P/E ratio of 23.20 and a beta of 0.36.
Investar Holding Corporation (NASDAQ:ISTR) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $10.10 million for the quarter, compared to analyst estimates of $9.82 million. Investar Holding Corporation had a return on equity of 5.94% and a net margin of 15.78%. On average, equities analysts predict that Investar Holding Corporation will post $1.15 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Wednesday, October 4th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Tuesday, October 3rd. This is a positive change from Investar Holding Corporation’s previous quarterly dividend of $0.02. Investar Holding Corporation’s payout ratio is currently 11.65%.
Several large investors have recently bought and sold shares of the company. Banc Funds Co. LLC raised its position in shares of Investar Holding Corporation by 14.0% in the second quarter. Banc Funds Co. LLC now owns 594,513 shares of the financial services provider’s stock valued at $13,614,000 after buying an additional 73,200 shares during the last quarter. EJF Capital LLC acquired a new position in shares of Investar Holding Corporation in the first quarter valued at approximately $11,990,000. Vanguard Group Inc. raised its position in shares of Investar Holding Corporation by 32.3% in the second quarter. Vanguard Group Inc. now owns 366,623 shares of the financial services provider’s stock valued at $8,396,000 after buying an additional 89,433 shares during the last quarter. RMB Capital Management LLC acquired a new position in shares of Investar Holding Corporation in the first quarter valued at approximately $2,975,000. Finally, Alliancebernstein L.P. raised its position in shares of Investar Holding Corporation by 52.8% in the first quarter. Alliancebernstein L.P. now owns 132,271 shares of the financial services provider’s stock valued at $2,897,000 after buying an additional 45,732 shares during the last quarter. 61.01% of the stock is owned by institutional investors and hedge funds.
Investar Holding Corporation Company Profile
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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