Isabella Bank (NASDAQ:ISBA) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Isabella Bank from “strong sell” to “hold.” Analysts overall also rate the stock “Hold,” with a consensus price target of $43.00.
• Isabella Bank shares opened at $38.45, below the consensus target, but remain well below their one-year high of $58.83. The stock has a market capitalization of approximately $293 million and a P/E ratio of 14.14.
• The company reported quarterly EPS of $0.69, missing the $0.92 consensus estimate, while revenue of $22.68 million was slightly below expectations. BlackRock made a notable new investment valued at approximately $18.5 million.

Isabella Bank (NASDAQ:ISBA - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Thursday, Zacks reports.

Several other equities analysts have also recently weighed in on ISBA. Piper Sandler decreased their price target on shares of Isabella Bank from $47.00 to $43.00 and set a "neutral" rating for the company in a research note on Monday, July 27th. Weiss Ratings reissued a "buy (b-)" rating on shares of Isabella Bank in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $43.00.

Isabella Bank Stock Performance

Shares of Isabella Bank stock opened at $38.45 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $293.37 million and a price-to-earnings ratio of 14.14. The stock's 50-day moving average is $39.46 and its 200-day moving average is $41.67. Isabella Bank has a one year low of $33.24 and a one year high of $58.83.

Isabella Bank (NASDAQ:ISBA - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.23). Isabella Bank had a return on equity of 8.48% and a net margin of 16.78%.The firm had revenue of $22.68 million for the quarter, compared to the consensus estimate of $23.00 million. Equities analysts predict that Isabella Bank will post 3.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

About Isabella Bank

Isabella Bank Corporation is a bank holding company headquartered in Mount Pleasant, Michigan. Through its subsidiary, Isabella Bank, the company provides community banking services to individuals, families, businesses and organizations.

Isabella Bank's offerings include checking and savings accounts, certificates of deposit, consumer loans, residential mortgage lending, commercial loans and lines of credit. The bank also provides treasury management and other business banking services, along with investment, trust and wealth management services through its financial services operations.

Founded in 1903, Isabella Bank serves customers through a network of banking offices and automated teller machines in central Michigan.

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