Investar Holding downgraded to Neutral from Overweight at Piper Sandler

Piper Sandler analyst Stephen Scouten downgraded Investar Holding (ISTR) to Neutral from Overweight with a price target of $31.50, down from $34. The firm reduced the company’s net interest margin estimates post the Q1 report, saying the provision beat is more than offset by a smaller combined AEA base. Piper thinks further share outperformance will be limited based on current expectations.