Investar (ISTR) Now Covered by Analysts at FIG Partners

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FIG Partners started coverage on shares of Investar (NASDAQ:ISTR) in a report published on Wednesday. The firm issued a buy rating and a $30.00 price objective on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on ISTR. BidaskClub upgraded shares of Investar from a buy rating to a strong-buy rating in a report on Thursday, June 28th. ValuEngine upgraded shares of Investar from a hold rating to a buy rating in a report on Monday, July 2nd. Zacks Investment Research upgraded shares of Investar from a sell rating to a hold rating in a report on Saturday, September 29th. Finally, Piper Jaffray Companies set a $30.00 price target on shares of Investar and gave the company a buy rating in a report on Sunday, July 29th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $29.00.

Shares of ISTR stock traded up $0.13 during trading hours on Wednesday, reaching $25.22. 20,029 shares of the stock traded hands, compared to its average volume of 15,260. Investar has a 1-year low of $20.35 and a 1-year high of $29.90. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $256.99 million, a P/E ratio of 22.52 and a beta of 0.33.

Investar (NASDAQ:ISTR) last released its quarterly earnings results on Friday, July 27th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. Investar had a net margin of 15.20% and a return on equity of 7.90%. The business had revenue of $15.51 million for the quarter, compared to analyst estimates of $14.84 million. Sell-side analysts predict that Investar will post 1.65 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Monday, October 8th will be paid a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, October 4th. This is a positive change from Investar’s previous quarterly dividend of $0.04. Investar’s dividend payout ratio is currently 16.07%.

A number of institutional investors have recently added to or reduced their stakes in ISTR. MetLife Investment Advisors LLC acquired a new position in Investar in the 2nd quarter valued at approximately $129,000. Rhumbline Advisers acquired a new position in Investar in the 2nd quarter valued at approximately $225,000. Globeflex Capital L P increased its stake in Investar by 18.6% in the 2nd quarter. Globeflex Capital L P now owns 14,000 shares of the financial services provider’s stock valued at $387,000 after buying an additional 2,200 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Investar by 39.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 19,426 shares of the financial services provider’s stock valued at $538,000 after buying an additional 5,526 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Investar by 86.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 50,767 shares of the financial services provider’s stock valued at $1,312,000 after buying an additional 23,480 shares during the period. Hedge funds and other institutional investors own 58.19% of the company’s stock.

About Investar

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, NOW, and individual retirement accounts, as well as various certificates of deposit; debit cards; and mobile banking services.

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