** Shares of Investar Holding ISTR.O rise 5.5% to $18.33
** Community bank has received $3.4 million as property insurance settlement tied to a late 2021 credit incident related to Hurricane Ida, it disclosed late Thursday
** Hovde Group reiterates "outperform" rating on ISTR and estimates a $2.6 million benefit to the bank's net income in Q1 2025 via the recovery
** Brokerage says it is encouraged by the management's ability to recoup losses related to the incident
** Adds its thesis on ISTR shares as a deeply discounted stock with solid profitability growth prospects remains intact
** Two of three brokerages rate the stock "buy" or higher and one "hold"; median PT is $23.50 - data compiled by LSEG
** ISTR shares down 18% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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