Piper Sandler Trims Investar (NASDAQ:ISTR) Target Price to $13.00

Investar (NASDAQ:ISTR – Get Rating) had its target price trimmed by Piper Sandler from $17.00 to $13.00 in a report released on Monday, The Fly reports.

Other equities analysts have also issued reports about the stock. TheStreet lowered shares of Investar from a b- rating to a c rating in a report on Wednesday, May 3rd. StockNews.com assumed coverage on shares of Investar in a research note on Thursday, May 18th. They issued a hold rating for the company.

Investar Stock Down 1.9 %

ISTR opened at $11.26 on Monday. The firm has a 50-day simple moving average of $13.12 and a two-hundred day simple moving average of $18.19. Investar has a 52 week low of $11.06 and a 52 week high of $23.72. The company has a market capitalization of $111.70 million, a PE ratio of 3.87 and a beta of 0.44. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.58.

Investar (NASDAQ:ISTR – Get Rating) last announced its quarterly earnings results on Thursday, April 20th. The financial services provider reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). Investar had a net margin of 23.49% and a return on equity of 11.54%. The business had revenue of $21.25 million during the quarter, compared to the consensus estimate of $23.34 million. Analysts forecast that Investar will post 1.63 earnings per share for the current fiscal year.

Investar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, March 31st were given a $0.095 dividend. The ex-dividend date was Thursday, March 30th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 3.37%. Investar’s dividend payout ratio (DPR) is currently 13.06%.

Insiders Place Their Bets

In other news, Director Andrew C. Nelson acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was acquired at an average price of $15.77 per share, for a total transaction of $47,310.00. Following the completion of the transaction, the director now owns 133,360 shares in the company, valued at approximately $2,103,087.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders bought 8,407 shares of company stock worth $120,106. Company insiders own 8.76% of the company’s stock.

Institutional Trading of Investar

Large investors have recently bought and sold shares of the business. CWM LLC purchased a new stake in shares of Investar in the 1st quarter valued at approximately $28,000. UBS Group AG purchased a new position in shares of Investar during the 3rd quarter worth approximately $31,000. NewEdge Advisors LLC lifted its holdings in Investar by 79.1% during the 1st quarter. NewEdge Advisors LLC now owns 2,560 shares of the financial services provider’s stock worth $36,000 after buying an additional 1,131 shares in the last quarter. LSV Asset Management acquired a new stake in Investar during the 4th quarter worth approximately $73,000. Finally, Citigroup Inc. acquired a new stake in Investar during the 4th quarter worth approximately $118,000. Hedge funds and other institutional investors own 58.66% of the company’s stock.

Investar Company Profile

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Investar Holding Corp. is a financial holding company, which engages in the provision of full banking services. It offers a full 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. Its lending products consists of owner-occupied commercial real estate loans, construction loans and commercial and industrial loans, such as term loans, equipment financing and lines of credit, while its loans to individuals include first and second mortgage loans, installment loans, and lines of credit.