Isabella Bank (NASDAQ:ISBA) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Isabella Bank (NASDAQ:ISBA) from a neutral rating to an overweight rating in a research note issued to investors on Wednesday morning, MarketBeat reports. They currently have $50.00 price objective on the stock, up from their prior price objective of $43.00.

Other research analysts have also issued reports about the stock. Zacks Research raised shares of Isabella Bank from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Isabella Bank in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, Isabella Bank presently has a consensus rating of “Buy” and an average target price of $50.00.

Isabella Bank Price Performance

NASDAQ:ISBA opened at $40.64 on Wednesday. The firm has a market cap of $310.90 million, a P/E ratio of 13.79 and a beta of 0.05. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average of $38.55 and a two-hundred day moving average of $42.51. Isabella Bank has a 12 month low of $35.51 and a 12 month high of $58.83.

Isabella Bank (NASDAQ:ISBA) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $24.17 million during the quarter, compared to analysts’ expectations of $23.90 million. Isabella Bank had a net margin of 17.50% and a return on equity of 9.24%. On average, analysts expect that Isabella Bank will post 2.83 earnings per share for the current fiscal year.

Isabella Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 28th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, September 28th. Isabella Bank’s dividend payout ratio is 39.02%.

Institutional Investors Weigh In On Isabella Bank

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new stake in shares of Isabella Bank in the 2nd quarter worth $417,000. Legal & General Group Plc bought a new stake in Isabella Bank during the 2nd quarter worth about $27,000. BlackRock Inc. bought a new position in shares of Isabella Bank in the 2nd quarter valued at about $18,464,000. Deutsche Bank AG bought a new stake in shares of Isabella Bank during the second quarter worth $268,000. Finally, Bank of New York Mellon Corp bought a new stake in Isabella Bank during the second quarter worth $663,000.

Isabella Bank Company Profile

Isabella Bank Corporation is the bank holding company for Isabella Bank, a community banking institution headquartered in Mount Pleasant, Michigan. Founded in 1903, the bank serves individuals, families, businesses and community organizations primarily across central Michigan.

Isabella Bank provides a range of personal and business banking products, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing and other business lending.