Isabella Bank Co. (OTCMKTS:ISBA) Declares Quarterly Dividend of $0.28

Isabella Bank Co. (OTCMKTS:ISBA - Get Free Report) announced a quarterly dividend on Thursday, May 29th, RTT News reports. Stockholders of record on Thursday, June 26th will be paid a dividend of 0.28 per share on Monday, June 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, June 26th.

Isabella Bank Trading Down 0.9%

OTCMKTS ISBA traded down $0.25 on Friday, reaching $27.50. 1,406 shares of the company were exchanged, compared to its average volume of 2,249. Isabella Bank has a fifty-two week low of $17.55 and a fifty-two week high of $28.95. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $203.03 million, a P/E ratio of 14.78 and a beta of 0.04. The business's fifty day moving average price is $25.41 and its 200 day moving average price is $25.15.

Isabella Bank (OTCMKTS:ISBA - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. The firm had revenue of $18.05 million for the quarter, compared to the consensus estimate of $18.50 million. Isabella Bank had a return on equity of 7.34% and a net margin of 13.28%. Analysts forecast that Isabella Bank will post 2.25 earnings per share for the current year.

Isabella Bank announced that its board has initiated a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Piper Sandler increased their price objective on Isabella Bank from $26.50 to $28.00 and gave the company a "neutral" rating in a report on Monday, February 3rd.

Insider Activity

In related news, Treasurer Michael P. Prisby sold 1,000 shares of Isabella Bank stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $27.89, for a total transaction of $27,890.00. Following the completion of the transaction, the treasurer now directly owns 18,658 shares of the company's stock, valued at approximately $520,371.62. The trade was a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 9.70% of the company's stock.

About Isabella Bank

Isabella Bank Corporation operates as the bank holding company for Isabella Bank that provides various banking products and services to businesses, institutions, and individuals and their families. Its deposit products include checking accounts, savings accounts, certificates of deposit, direct deposits, and money market accounts.