FIG Partners Begins Coverage on Investar (ISTR)
FIG Partners initiated coverage on shares of Investar (NASDAQ:ISTR) in a research report report published on Wednesday. The brokerage issued a buy rating and a $30.00 target price on the financial services provider’s stock.
A number of other analysts have also weighed in on ISTR. BidaskClub raised shares of Investar from a buy rating to a strong-buy rating in a research note on Thursday, June 28th. ValuEngine raised shares of Investar from a hold rating to a buy rating in a research note on Monday, July 2nd. Zacks Investment Research raised shares of Investar from a sell rating to a hold rating in a research note on Saturday, September 29th. Finally, Piper Jaffray Companies set a $30.00 price target on shares of Investar and gave the stock a buy rating in a research note on Sunday, July 29th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $29.00.
Investar stock traded up $0.13 during midday trading on Wednesday, reaching $25.22. 20,029 shares of the stock traded hands, compared to its average volume of 15,260. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $256.99 million, a price-to-earnings ratio of 22.52 and a beta of 0.33. Investar has a fifty-two week low of $20.35 and a fifty-two week high of $29.90.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Monday, October 8th will be paid a $0.045 dividend. This is a positive change from Investar’s previous quarterly dividend of $0.04. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, October 4th. Investar’s dividend payout ratio is currently 16.07%.
Several large investors have recently modified their holdings of ISTR. MetLife Investment Advisors LLC acquired a new stake in shares of Investar in the 2nd quarter worth approximately $129,000. Rhumbline Advisers acquired a new stake in Investar during the second quarter valued at approximately $225,000. Globeflex Capital L P lifted its stake in Investar by 18.6% during the second quarter. Globeflex Capital L P now owns 14,000 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 2,200 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Investar by 39.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 19,426 shares of the financial services provider’s stock valued at $538,000 after purchasing an additional 5,526 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Investar by 86.0% during the first quarter. Dimensional Fund Advisors LP now owns 50,767 shares of the financial services provider’s stock valued at $1,312,000 after purchasing an additional 23,480 shares during the last quarter. 58.19% of the stock is owned by institutional investors.
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, NOW, and individual retirement accounts, as well as various certificates of deposit; debit cards; and mobile banking services.
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