Investar (NASDAQ:ISTR) Rating Lowered to Neutral at DA Davidson
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.
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.
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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