Investar (NASDAQ:ISTR) Shares Pass Above Fifty Day Moving Average - Here's What Happened
Investar Holding Corporation (NASDAQ:ISTR) shares have surpassed their 50-day moving average of $23.16, trading at $23.78. Analysts have upgraded the stock's ratings, with Zacks Research moving it to a "strong-buy" and Piper Sandler raising the target price to $29.00. The company reported a quarterly loss of $1.06 per share and revenue of $25.46 million. Investar also declared a dividend of $0.11 per share, with a yield of 190.0%. Institutional investors hold 50.17% of the stock, reflecting growing interest in the company.
Investar Holding Corporation (NASDAQ:ISTR - Get Free Report)'s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $23.16 and traded as high as $23.93. Investar shares last traded at $23.78, with a volume of 29,355 shares changing hands.
Analysts Set New Price Targets
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A number of research firms recently issued reports on ISTR. Zacks Research upgraded Investar from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 22nd. Weiss Ratings upgraded Investar from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday. Finally, Piper Sandler raised their target price on shares of Investar to $29.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $29.00.
Check Out Our Latest Analysis on ISTR
Investar Trading Up 0.0%
The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average price of $23.16 and a 200-day moving average price of $21.48. The firm has a market capitalization of $233.28 million, a PE ratio of 10.62 and a beta of 0.63.
Investar (NASDAQ:ISTR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 1st. The financial services provider reported ($1.06) earnings per share for the quarter. The business had revenue of $25.46 million during the quarter. Investar had a net margin of 14.87% and a return on equity of 9.53%. Analysts expect that Investar Holding Corporation will post 1.83 earnings per share for the current year.
Investar Announces Dividend
The business also recently declared a dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a dividend yield of 190.0%. Investar's dividend payout ratio is 19.64%.
Institutional Trading of Investar
A number of institutional investors have recently added to or reduced their stakes in ISTR. Fourthstone LLC acquired a new position in Investar during the second quarter worth about $584,000. Strs Ohio purchased a new stake in shares of Investar during the 1st quarter worth approximately $493,000. Los Angeles Capital Management LLC acquired a new stake in shares of Investar in the 2nd quarter worth approximately $480,000. Marshall Wace LLP increased its stake in Investar by 72.4% in the 2nd quarter. Marshall Wace LLP now owns 58,221 shares of the financial services provider's stock valued at $1,125,000 after purchasing an additional 24,451 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Investar by 66.0% during the first quarter. Hsbc Holdings PLC now owns 52,310 shares of the financial services provider's stock worth $929,000 after purchasing an additional 20,794 shares during the last quarter. Hedge funds and other institutional investors own 50.17% of the company's stock.
About Investar
(Get Free Report)Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products to individuals, professionals, and small to medium-sized businesses in south Louisiana, southeast Texas, and Alabama in the United States. 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 and credit cards; internet, mobile, and video banking services; and reciprocal deposit products.
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