BlackRock Inc. Acquires New Shares in Isabella Bank Corporation $ISBA

Key Points

• BlackRock acquired 467,431 shares of Isabella Bank, valued at approximately $18.5 million, giving it a 6.37% ownership stake.
• Analyst sentiment is mixed: Zacks downgraded the stock to “strong sell,” Piper Sandler maintained a “neutral” rating and cut its price target to $43, while the overall consensus rating remains “Hold.”
• Isabella Bank reported quarterly EPS of $0.69, below the $0.92 consensus estimate, while announcing a quarterly dividend of $0.28 per share, equivalent to a 2.8% annualized yield.

BlackRock Inc. acquired a new position in shares of Isabella Bank Corporation (NASDAQ:ISBA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 467,431 shares of the company's stock, valued at approximately $18,464,000. BlackRock Inc. owned 6.37% of Isabella Bank at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC acquired a new position in Isabella Bank in the fourth quarter valued at about $38,000. Bank of America Corp DE raised its position in shares of Isabella Bank by 2,617.7% during the third quarter. Bank of America Corp DE now owns 1,685 shares of the company's stock worth $59,000 after purchasing an additional 1,623 shares during the period. Barclays PLC bought a new position in shares of Isabella Bank during the 4th quarter valued at about $168,000. Integrated Wealth Concepts LLC acquired a new position in shares of Isabella Bank in the 3rd quarter valued at approximately $215,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Isabella Bank in the 3rd quarter valued at approximately $217,000.

Analysts Set New Price Targets

Several brokerages have commented on ISBA. Zacks Research downgraded shares of Isabella Bank from a "hold" rating to a "strong sell" rating in a report on Monday, July 27th. Weiss Ratings reissued a "buy (b-)" rating on shares of Isabella Bank in a research note on Tuesday, June 30th. Finally, Piper Sandler cut their price target on Isabella Bank from $47.00 to $43.00 and set a "neutral" rating on the stock in a report on Monday, July 27th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $43.00.

Isabella Bank Price Performance

NASDAQ ISBA opened at $39.68 on Friday. The firm's 50 day moving average is $39.83 and its 200-day moving average is $42.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $302.76 million and a PE ratio of 14.59. Isabella Bank Corporation has a 12-month low of $31.20 and a 12-month high of $58.83.

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

Isabella Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 28th will be paid 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 is Monday, September 28th. Isabella Bank's dividend payout ratio is currently 41.18%.

Isabella Bank Company Profile

Isabella Bank NASDAQ: ISBA is a community bank headquartered in Mount Pleasant, Michigan, serving individuals and businesses across mid-Michigan. The bank delivers a broad array of financial products, including checking and savings accounts, money market accounts, certificates of deposit, and online and mobile banking platforms designed to meet everyday banking needs.

On the commercial side, Isabella Bank offers business lending solutions such as lines of credit, term loans, and equipment financing, alongside treasury management, merchant services, and payroll processing to help companies manage cash flow and streamline operations.

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