Isabella Bank (NASDAQ:ISBA) Raised to "Overweight" at Piper Sandler

Key Points

• Piper Sandler upgraded Isabella Bank to “Overweight” from “Neutral” and set a $50 price target, implying 25.38% upside from the prior close.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $50.
• In its latest quarter, Isabella Bank reported EPS of $0.86, below the $0.92 consensus estimate, while revenue of $24.17 million topped expectations of $23.90 million.

Isabella Bank (NASDAQ:ISBA - Get Free Report) was upgraded by equities researchers at Piper Sandler from a "neutral" rating to an "overweight" rating in a report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a $50.00 price target on the stock. Piper Sandler's price objective indicates a potential upside of 25.38% from the stock's previous close.

A number of other analysts have also recently issued reports on the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of Isabella Bank in a report on Friday, September 25th. Zacks Research raised shares of Isabella Bank from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 24th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $50.00.

Isabella Bank Stock Down 2.3%

Shares of NASDAQ ISBA opened at $39.88 on Wednesday. Isabella Bank has a 52-week low of $35.51 and a 52-week high of $58.83. The firm has a fifty day moving average of $38.41 and a 200-day moving average of $42.65. The stock has a market capitalization of $305.08 million, a PE ratio of 13.79 and a beta of 0.05. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.12.

Isabella Bank (NASDAQ:ISBA - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Isabella Bank had a return on equity of 9.24% and a net margin of 17.50%. The firm had revenue of $24.17 million during the quarter, compared to analysts' expectations of $23.90 million. On average, analysts anticipate that Isabella Bank will post 3.24 EPS for the current year.

Institutional Trading of Isabella Bank

Institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc bought a new position in shares of Isabella Bank in the 2nd quarter worth about $27,000. Deutsche Bank AG acquired a new position in shares of Isabella Bank in the 2nd quarter valued at about $268,000. Gradient Investments LLC acquired a new position in shares of Isabella Bank in the 2nd quarter valued at about $337,000. Dimensional Fund Advisors LP bought a new stake in shares of Isabella Bank during the 1st quarter valued at about $403,000. Finally, Bank of America Corp DE grew its position in shares of Isabella Bank by 115.7% during the 1st quarter. Bank of America Corp DE now owns 9,316 shares of the company's stock valued at $425,000 after buying an additional 4,998 shares during the last quarter.

About Isabella Bank

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.