ISTR - Investar Holding To See Lower Net Interest Margin Upside In Higher For Longer Environment In FY24: Analyst | Benzinga
Piper Sandler analyst Graham Dick upgraded Investar Holding Corp (NASDAQ: ISTR) to Overweight from Neutral with a price target of $13.5.
The upgrade is due to the analyst's view of valuation 'becoming unreasonably depressed' given the bank's modest earnings outlook.
The analyst finds ISTR's CET1 ratio of about 10% as comforting and slower balance sheet growth but sees accumulated other comprehensive income (AOCI) worsening in Q3 on rate movements.
The ...