Investar (NASDAQ:ISTR) was downgraded by equities research analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, MarketBeat reports. They currently have a $15.50 price target on the financial services provider’s stock, down from their prior price target of $16.00. DA Davidson’s price objective would indicate a potential upside of 11.67% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Investar from a “hold” rating to a “sell” rating in a report on Wednesday, July 29th. Raymond James downgraded Investar from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 17th. Finally, ValuEngine upgraded Investar from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.00.

Shares of ISTR opened at $13.88 on Tuesday. The business’s 50 day moving average is $13.83 and its two-hundred day moving average is $13.62. Investar has a 52-week low of $8.49 and a 52-week high of $26.46. The firm has a market cap of $150.47 million, a price-to-earnings ratio of 11.38 and a beta of 0.66. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.85.

Investar (NASDAQ:ISTR) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.10. Investar had a return on equity of 6.13% and a net margin of 12.62%. The company had revenue of $22.27 million for the quarter, compared to analyst estimates of $19.22 million. On average, equities analysts expect that Investar will post 1.01 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA grew its stake in Investar by 48.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,867 shares of the financial services provider’s stock worth $37,000 after buying an additional 936 shares during the last quarter. American International Group Inc. grew its stake in Investar by 14.1% during the 2nd quarter. American International Group Inc. now owns 6,223 shares of the financial services provider’s stock worth $90,000 after buying an additional 770 shares during the last quarter. Bank of America Corp DE grew its stake in Investar by 96.9% during the 2nd quarter. Bank of America Corp DE now owns 9,128 shares of the financial services provider’s stock worth $131,000 after buying an additional 4,492 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Investar during the 2nd quarter worth $174,000. Finally, Rhumbline Advisers grew its stake in Investar by 37.3% during the 1st quarter. Rhumbline Advisers now owns 18,413 shares of the financial services provider’s stock worth $235,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 55.40% 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, and individual retirement accounts, as well as various certificates of deposit; debit cards; and mobile banking services.

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