Investar Holding Corporation (ISTR) Given Overweight Rating at Piper Jaffray Companies
Investar Holding Corporation (NASDAQ:ISTR)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Piper Jaffray Companies in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $26.00 target price on the financial services provider’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 7.44% from the company’s previous close.
Other equities analysts have also recently issued reports about the stock. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Investar Holding Corporation in a research note on Thursday, August 10th. UBS AG cut shares of Investar Holding Corporation from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research cut shares of Investar Holding Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $26.50.
Investar Holding Corporation (NASDAQ ISTR) traded up 0.83% during midday trading on Thursday, reaching $24.20. 15,585 shares of the company traded hands. The firm has a 50 day moving average of $22.66 and a 200-day moving average of $22.55. The stock has a market capitalization of $210.42 million, a price-to-earnings ratio of 23.84 and a beta of 0.36. Investar Holding Corporation has a 12 month low of $15.43 and a 12 month high of $24.40.
Investar Holding Corporation (NASDAQ:ISTR) last issued 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). Investar Holding Corporation had a return on equity of 5.94% and a net margin of 15.78%. The firm had revenue of $10.10 million during the quarter, compared to analyst estimates of $9.82 million. Analysts forecast that Investar Holding Corporation will post $1.15 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors acquired a new position in Investar Holding Corporation during the 2nd quarter valued at $104,000. The Manufacturers Life Insurance Company acquired a new position in Investar Holding Corporation during the 2nd quarter valued at $190,000. New York State Common Retirement Fund acquired a new position in Investar Holding Corporation during the 2nd quarter valued at $202,000. Spark Investment Management LLC acquired a new position in Investar Holding Corporation during the 2nd quarter valued at $203,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Investar Holding Corporation during the 2nd quarter valued at $226,000. 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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