Investar Holding Corporation (NASDAQ:ISTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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. “

A number of other equities research analysts have also recently weighed in on ISTR. UBS AG cut shares of Investar Holding Corporation from an “outperform” rating to a “market perform” rating in a report on Thursday, August 10th. Raymond James Financial, Inc. restated a “market perform” rating on shares of Investar Holding Corporation in a report on Thursday, August 10th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Investar Holding Corporation currently has an average rating of “Hold” and an average target price of $24.50.

Shares of Investar Holding Corporation (NASDAQ ISTR) traded up 1.33% during trading on Friday, reaching $22.80. 34,481 shares of the company traded hands. The stock has a market capitalization of $198.25 million, a P/E ratio of 22.46 and a beta of 0.33. Investar Holding Corporation has a 12-month low of $15.35 and a 12-month high of $23.75. The firm’s 50 day moving average is $22.35 and its 200-day moving average is $22.29.

Investar Holding Corporation (NASDAQ:ISTR) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). The business had revenue of $10.10 million during the quarter, compared to analysts’ expectations of $9.82 million. Investar Holding Corporation had a return on equity of 5.94% and a net margin of 15.78%. On average, equities research analysts anticipate that Investar Holding Corporation will post $1.15 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Banc Funds Co. LLC lifted its position in Investar Holding Corporation by 14.0% during the second quarter. Banc Funds Co. LLC now owns 594,513 shares of the financial services provider’s stock valued at $13,614,000 after purchasing an additional 73,200 shares during the period. EJF Capital LLC bought a new position in Investar Holding Corporation during the first quarter valued at approximately $11,990,000. Vanguard Group Inc. lifted its position in Investar Holding Corporation by 32.3% during the second quarter. Vanguard Group Inc. now owns 366,623 shares of the financial services provider’s stock valued at $8,396,000 after purchasing an additional 89,433 shares during the period. River Oaks Capital LLC lifted its position in Investar Holding Corporation by 11.8% during the first quarter. River Oaks Capital LLC now owns 209,200 shares of the financial services provider’s stock valued at $4,581,000 after purchasing an additional 22,100 shares during the period. Finally, RMB Capital Management LLC bought a new position in Investar Holding Corporation during the first quarter valued at approximately $2,975,000. Hedge funds and other institutional investors own 61.01% of the company’s stock.

Investar Holding Corporation Company Profile

Investar Holding Corporation is financial holding company that conducts its operations through, Investar Bank (the Bank), which is a commercial bank. The Company offers a range of commercial and retail lending products throughout its market areas, including business loans to small to medium-sized businesses, as well as loans to individuals.

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