Investar (NASDAQ:ISTR) Upgraded at Raymond James

Raymond James upgraded shares of Investar (NASDAQ:ISTR) from a market perform rating to an outperform rating in a research note issued to investors on Monday morning, BenzingaRatingsTable reports.

Several other brokerages have also recently weighed in on ISTR. Zacks Investment Research cut shares of Green Plains from a hold rating to a strong sell rating in a research report on Thursday, June 27th. ValuEngine raised shares of Xylem from a hold rating to a buy rating in a research report on Friday, June 21st. Finally, FIG Partners reaffirmed an outperform rating on shares of Sterling Bancorp in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $28.75.

Shares of ISTR stock opened at $23.89 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $238.96 million, a P/E ratio of 13.85 and a beta of 0.15. The stock has a 50-day moving average of $23.63. Investar has a one year low of $19.49 and a one year high of $28.69.



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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th will be given a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, July 5th. This is a boost from Investar’s previous quarterly dividend of $0.05. Investar’s dividend payout ratio is presently 13.41%.

In other news, CFO Christopher L. Hufft sold 1,250 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $23.55, for a total value of $29,437.50. Following the completion of the sale, the chief financial officer now owns 26,006 shares of the company’s stock, valued at approximately $612,441.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.64% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of ISTR. BNP Paribas Arbitrage SA lifted its position in Investar by 1,138.8% during the first quarter. BNP Paribas Arbitrage SA now owns 1,883 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,731 shares during the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in Investar during the fourth quarter valued at approximately $82,000. MetLife Investment Advisors LLC purchased a new stake in Investar during the fourth quarter valued at approximately $112,000. Bank of America Corp DE lifted its position in Investar by 82.5% during the fourth quarter. Bank of America Corp DE now owns 5,759 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 2,603 shares during the last quarter. Finally, KG&L Capital Management LLC purchased a new stake in Investar during the fourth quarter valued at approximately $248,000. 54.10% of the stock is owned by 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.

See Also: Leveraged Buyout (LBO)

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