Investar (NASDAQ:ISTR) Receives Upgrade from StockNews.com

Investar (NASDAQ:ISTR) has received an upgrade from StockNews.com, which has changed its rating for the company from "hold" to "buy." This upgrade was highlighted in a research note sent to clients and investors on Friday.

In a related development, Piper Sandler also initiated coverage of Investar on the same day. In their report, they assigned a "neutral" rating to the stock, setting a price target of $21.00.

Investar's Stock Performance

On Friday, shares of Investar fell by 2.2%, closing at $18.56. During the trading session, 33,896 shares were exchanged, which is slightly above the average volume of 31,862. The financial health indicators for Investar include a current ratio of 0.95, a quick ratio of 0.95, and a debt-to-equity ratio of 0.85. The stock's fifty-day moving average is $20.33 while the 200-day moving average stands at $20.21. Currently, Investar has a market capitalization of $182.44 million, with a price-to-earnings (P/E) ratio of 9.10 and a beta of 0.79. Over the past fifty-two weeks, the stock has reached a low of $14.60 and a high of $24.81.

Investar last reported its earnings results on January 23. The company revealed earnings per share (EPS) of $0.65 for the quarter, exceeding analysts' expectations, which had estimated EPS of $0.39. Investar's return on equity was recorded at 8.00%, while its net margin was 12.81%. Analysts predict that Investar will achieve an EPS of 1.83 for the current fiscal year.

Institutional Investor Activity

Recent changes in institutional ownership indicate growing interest in Investar. For instance, the New York State Common Retirement Fund doubled its investment in Investar during the fourth quarter, now holding 2,200 shares valued at $48,000 after acquiring an additional 1,100 shares. Additionally, MetLife Investment Management LLC increased its holdings by 129.1% in the third quarter, owning 5,429 shares now valued at $105,000. Wells Fargo & Company MN boosted its stake by 47.8% in the fourth quarter, reaching a total of 8,309 shares valued at $182,000 after adding 2,688 shares. Prudential Financial Inc. and Cornercap Investment Counsel Inc. also acquired new positions, valued at approximately $211,000 and $272,000, respectively. At present, institutional investors own about 50.17% of Investar’s stock.

About Investar Holding Corporation

Investar Holding Corporation operates as the bank holding company for Investar Bank. This institution offers a range of commercial banking products targeted at individuals, professionals, and small to medium-sized businesses primarily in south Louisiana, southeast Texas, and Alabama. Investar provides various deposit products and services, including savings and checking accounts, money market accounts, individual retirement accounts, as well as certificates of deposit, debit and credit cards, and internet and mobile banking services.

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