Investar (NASDAQ:ISTR) PT Lowered to $20.00 at Hovde Group

Investar (NASDAQ:ISTR) had its price objective trimmed by Hovde Group from $20.50 to $20.00 in a research note published on Tuesday, MarketBeat.com reports. The firm currently has an outperform rating on the financial services provider’s stock.

Investar Trading Up 0.2 %

NASDAQ ISTR opened at $16.29 on Tuesday. Investar has a 12 month low of $9.07 and a 12 month high of $17.99. The stock has a 50-day simple moving average of $16.06 and a 200 day simple moving average of $14.36. The company has a market capitalization of $159.32 million, a PE ratio of 9.10 and a beta of 0.77. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.24.

Investar (NASDAQ:ISTR) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.14. Investar had a return on equity of 8.25% and a net margin of 12.02%. The company had revenue of $20.25 million during the quarter, compared to the consensus estimate of $20.84 million. Research analysts forecast that Investar will post 1.26 EPS for the current year.

Investar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 1st will be issued a $0.10 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.46%. Investar’s dividend payout ratio (DPR) is currently 22.35%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ISTR. Barclays PLC grew its holdings in shares of Investar by 23.0% during the third quarter. Barclays PLC now owns 13,166 shares of the financial services provider’s stock worth $139,000 after buying an additional 2,461 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Investar by 231.7% during the third quarter. Janney Montgomery Scott LLC now owns 40,466 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 28,266 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Investar during the third quarter valued at approximately $149,000. Stratos Wealth Partners LTD. acquired a new position in Investar during the fourth quarter valued at approximately $180,000. Finally, AJOVista LLC acquired a new position in Investar during the fourth quarter valued at approximately $55,000. 50.17% of the stock is currently owned by institutional investors.

Investar Company Profile

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.