In a research report made available to the public on Wednesday, StockNews.com recommended that investors “buy” shares of Investar (NASDAQ: ISTR). A “hold” rating had been assigned to the company at one point.
Separately, Piper Sandler lowered their price objective on Investar to $23.00 in a research note that was published on Thursday, September 29.
On Wednesday, trading on the NASDAQ ISTR began at $21.58. The stock’s current price is $21.74, and its simple moving average for the past 200 days is $21.63. The company has a market value currently sitting at $213.45 million, a price-to-earnings ratio currently sitting at 6.56, and a beta currently sitting at 0.49. Investor reached its all-time high of $23.72 during the 52 weeks, while the stock reached its all-time low of $18.07 during the same period. A debt-to-equity ratio comes in at 1.83; a quick ratio comes in at 0.98; a current ratio comes in at 0.98; and a quick ratio comes in at 0.98.
Investor (NASDAQ: ISTR) announced the outcomes of its most recent quarterly earnings report on Monday, October 24. The financial services company reported that it had profits of $0.71 per share for the quarter, which is $0.06 higher than the average estimate of $0.65 per share floating around the industry. Investors had a return on equity of 11.71%, and the company’s net margin was 29.21% of its revenue. The revenue for the quarter came in significantly higher than the $24.56 million analysts had anticipated, coming in at a total of $26.13 million instead. According to projections made by analysts covering the equity market, Investar will bring in a profit of 2.71 cents per share this year.
On Friday, October 28, director James M. Baker sold 3,730 shares of Investar stock. This is related to the news that was previously mentioned. The transaction was completed. A total of 77,546.70 dollars’ worth of the stock was traded for $20.79 per share, making the total value of the trade 77,546.70 dollars. The director now has direct ownership of 7,650 shares of the company, which have an approximate value of $159,043.50 as a result of the completion of the sale. If you click on this link, you will be taken to a legal filing that was made with the SEC, which will give you more information regarding the transaction and take you there immediately. The company insiders’ current ownership of the company’s stock is 10.27%.
Recent deals involving the company’s shares involved institutional buyers and sellers. Investors received a contribution of 131,000 dollars from Concourse Financial Group Securities Inc. as an investment during the second quarter. During the third quarter, ELCO Management Co. LLC increased its holdings in Investar by purchasing an additional 398,000 shares, bringing the company’s total number of shares to 1. During the third quarter of the current fiscal year, Hillsdale Investment Management Inc. purchased an additional 50.9% of Investar’s shares. Hillsdale Investment Management Inc. now has a total of 38,200 shares of the publicly traded company with a market cap of $761,000 in its possession. This is after purchasing an additional 12,884 shares during the most recent quarter. Dimensional Fund Advisors LP increased the number of Investar shares that comprised 7.5% of the company’s total assets by 7.5% during the third quarter. Dimensional Fund Advisors LP now has 251,717 stock held by the financial services provider after purchasing an additional 17,508 shares during the most recent fiscal quarter. This brings the total number of shares owned by the firm to 251,717. There is a value of $5,009,000 associated with these shares. And finally, during the third quarter, UBS Group AG increased its holdings of Investar shares by approximately $31,000, giving the company a total value of approximately $31,000 for its new position. Currently, 58.66% of the company’s stock is held by hedge funds and various other institutional investors.
Customers have access to a comprehensive menu of banking options through Investar Holding Corp., the financial holding company that manages the company. Across all of its market categories, it offers its customers a comprehensive selection of commercial and retail lending products. These types of financial products and services include personal loans and loans for small and medium-sized businesses. This company provides a variety of lending products, including loans for owner-occupied commercial real estate, loans for new construction, commercial and industrial loans such as term loans, financing for equipment, and lines of credit, as well as personal loans such as first- and second-lien mortgage loans, installment loans, and lines of credit. Other lending products include loans for new construction and equipment financing.