Investar (NASDAQ:ISTR) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Investar (NASDAQ:ISTR) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Investar Holding Corporation is a bank holding company for Investar Bank. It offers a range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses and professional concerns, as well as loans to individuals. The company accepts various deposit products, including savings, checking, money market, and NOW accounts, as well as various certificates of deposit and individual retirement accounts. It also provides cash management products and services, such as remote deposit capture, electronic statements, positive pay, ACH origination and wire transfer, investment sweep accounts, and business Internet banking, as well as debit cards and mobile banking services. Investar Holding Corporation is headquartered in Baton Rouge, Louisiana. “

Other analysts have also recently issued reports about the stock. ValuEngine raised shares of Investar from a sell rating to a hold rating in a research note on Thursday, July 2nd. Raymond James cut shares of Investar from an outperform rating to a market perform rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Investar currently has a consensus rating of Hold and a consensus target price of $23.67.

Shares of ISTR opened at $13.33 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $13.82 and a 200-day simple moving average of $15.81. Investar has a 1-year low of $8.49 and a 1-year high of $26.46. The stock has a market cap of $145.83 million, a price-to-earnings ratio of 9.99 and a beta of 0.68.

Investar (NASDAQ:ISTR) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.10. Investar had a net margin of 12.62% and a return on equity of 6.18%. The business had revenue of $22.27 million during the quarter, compared to analysts’ expectations of $19.22 million. On average, equities analysts expect that Investar will post 0.96 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 6th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.24 annualized dividend and a dividend yield of 1.80%. Investar’s payout ratio is 13.26%.

Large investors have recently bought and sold shares of the stock. Alliancebernstein L.P. acquired a new position in Investar in the 1st quarter worth $2,004,000. Banc Funds Co. LLC grew its position in shares of Investar by 12.2% during the 1st quarter. Banc Funds Co. LLC now owns 737,594 shares of the financial services provider’s stock valued at $9,419,000 after buying an additional 80,200 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Investar by 296.0% during the 1st quarter. JPMorgan Chase & Co. now owns 104,812 shares of the financial services provider’s stock valued at $1,338,000 after buying an additional 78,343 shares during the last quarter. JCSD Capital LLC grew its position in shares of Investar by 52.4% during the 1st quarter. JCSD Capital LLC now owns 131,133 shares of the financial services provider’s stock valued at $1,675,000 after buying an additional 45,111 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Investar by 8.7% during the 1st quarter. BlackRock Inc. now owns 532,945 shares of the financial services provider’s stock valued at $6,807,000 after buying an additional 42,756 shares during the last quarter. Institutional investors and hedge funds own 55.68% 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 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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