Investar (ISTR) Stock Rating Reaffirmed by FIG Partners

Investar (NASDAQ:ISTR)‘s stock had its “outperform” rating restated by analysts at FIG Partners in a report issued on Monday, April 29th, Zacks.com reports. FIG Partners also issued estimates for Investar’s Q2 2019 earnings at $0.48 EPS, Q3 2019 earnings at $0.52 EPS, Q4 2019 earnings at $0.54 EPS, FY2019 earnings at $2.00 EPS, Q1 2020 earnings at $0.53 EPS, Q2 2020 earnings at $0.55 EPS, Q3 2020 earnings at $0.57 EPS, Q4 2020 earnings at $0.57 EPS and FY2020 earnings at $2.22 EPS.

ISTR has been the topic of several other research reports. Zacks Investment Research raised Investar from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. ValuEngine cut Investar from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Investar currently has a consensus rating of “Hold” and an average price target of $28.33.

Investar stock traded down $0.04 during trading on Monday, hitting $23.60. 6,700 shares of the company were exchanged, compared to its average volume of 14,783. Investar has a 52 week low of $19.49 and a 52 week high of $29.90. The company has a market capitalization of $237.45 million, a P/E ratio of 14.39 and a beta of 0.21. The company has a current ratio of 1.01, a quick ratio of 1.03 and a debt-to-equity ratio of 1.00.

Investar (NASDAQ:ISTR) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. Investar had a return on equity of 9.03% and a net margin of 18.46%. The business had revenue of $16.44 million during the quarter, compared to the consensus estimate of $16.42 million. On average, analysts predict that Investar will post 1.94 EPS for the current year.

In other news, Director Robert Chris Jordan purchased 5,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were purchased at an average price of $23.50 per share, with a total value of $117,500.00. Following the transaction, the director now directly owns 34,858 shares of the company’s stock, valued at $819,163. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought a total of 6,149 shares of company stock worth $144,324 in the last ninety days. Insiders own 9.64% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp raised its stake in shares of Investar by 0.7% during the 1st quarter. Northern Trust Corp now owns 102,569 shares of the financial services provider’s stock valued at $2,329,000 after purchasing an additional 723 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Investar by 28.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 127,532 shares of the financial services provider’s stock valued at $2,897,000 after purchasing an additional 28,622 shares during the period. Globeflex Capital L P raised its stake in shares of Investar by 17.9% during the 1st quarter. Globeflex Capital L P now owns 18,746 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 2,846 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Investar during the 1st quarter valued at $47,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Investar by 20.6% during the 1st quarter. JPMorgan Chase & Co. now owns 11,521 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 1,970 shares during the period. 54.52% of the stock is currently 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 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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