StockNews.com Downgrades Investar (NASDAQ:ISTR) to Hold

Investar (NASDAQ:ISTR) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Investar Trading Down 1.6 %

ISTR opened at $20.87 on Wednesday. The stock has a market capitalization of $205.15 million, a P/E ratio of 11.66 and a beta of 0.78. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. Investar has a 12 month low of $9.07 and a 12 month high of $21.58. The firm’s fifty day simple moving average is $19.22 and its 200 day simple moving average is $17.26.

Investar (NASDAQ:ISTR) last issued its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. The company had revenue of $40.39 million for the quarter, compared to analyst estimates of $20.07 million. Investar had a return on equity of 7.07% and a net margin of 11.35%. As a group, research analysts anticipate that Investar will post 1.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Copeland Capital Management LLC acquired a new position in shares of Investar during the 3rd quarter worth about $57,000. Empowered Funds LLC grew its stake in Investar by 7.9% in the first quarter. Empowered Funds LLC now owns 45,558 shares of the financial services provider’s stock valued at $745,000 after purchasing an additional 3,325 shares in the last quarter. Boston Partners increased its position in shares of Investar by 24.8% during the 1st quarter. Boston Partners now owns 23,188 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 4,614 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Investar by 34.4% during the 2nd quarter. Renaissance Technologies LLC now owns 30,075 shares of the financial services provider’s stock worth $463,000 after purchasing an additional 7,700 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its stake in Investar by 92.3% in the second quarter. Ritholtz Wealth Management now owns 20,670 shares of the financial services provider’s stock valued at $318,000 after acquiring an additional 9,921 shares during the last quarter. Institutional investors own 50.17% of the company’s stock.

Investar Company Profile

Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products to individuals, professionals, and small to medium-sized businesses in south Louisiana, southeast Texas, and Alabama in the United States. 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 and credit cards; internet, mobile, and video banking services; and reciprocal deposit products.