Investar (NASDAQ:ISTR) Upgraded by StockNews.com to Buy

Investar (NASDAQ:ISTR) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Investar Stock Performance

ISTR traded up $0.28 during midday trading on Tuesday, reaching $20.17. The company had a trading volume of 15,314 shares, compared to its average volume of 43,321. Investar has a 1 year low of $9.07 and a 1 year high of $21.03. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.26. The company has a market cap of $198.25 million, a P/E ratio of 11.27 and a beta of 0.78. The business has a 50-day moving average of $18.67 and a two-hundred day moving average of $17.03.

Investar (NASDAQ:ISTR) last announced its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12. The firm had revenue of $40.39 million during the quarter, compared to analysts’ expectations of $20.07 million. Investar had a net margin of 10.04% and a return on equity of 6.69%. As a group, equities research analysts predict that Investar will post 1.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Investar

A number of institutional investors have recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC boosted its stake in Investar by 36.3% during the first quarter. Kennedy Capital Management LLC now owns 214,513 shares of the financial services provider’s stock valued at $3,509,000 after buying an additional 57,178 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Investar by 14.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 251,235 shares of the financial services provider’s stock valued at $3,869,000 after acquiring an additional 31,589 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Investar in the first quarter valued at $504,000. Bank of New York Mellon Corp raised its stake in Investar by 111.4% during the second quarter. Bank of New York Mellon Corp now owns 48,073 shares of the financial services provider’s stock valued at $740,000 after purchasing an additional 25,330 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Investar during the second quarter valued at $329,000. 50.17% of the stock is owned by hedge funds and other institutional investors.

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.