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

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 given a dividend of 0.28 per share on Monday, June 30th. This represents a $1.12 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Thursday, June 26th.

Isabella Bank Trading Down 1.7%

Shares of OTCMKTS:ISBA traded down $0.48 during midday trading on Tuesday, hitting $27.01. 2,812 shares of the stock were exchanged, compared to its average volume of 2,259. The stock has a market capitalization of $199.41 million, a price-to-earnings ratio of 14.52 and a beta of 0.04. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.81. The business's 50-day moving average price is $25.49 and its 200 day moving average price is $25.19. Isabella Bank has a 12 month low of $17.55 and a 12 month high of $28.95.

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

Isabella Bank announced that its board has authorized a stock buyback program on Thursday, May 1st that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Transactions at Isabella Bank

In other news, Treasurer Michael P. Prisby sold 1,000 shares of Isabella Bank stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $27.89, for a total value of $27,890.00. Following the completion of the transaction, the treasurer now owns 18,658 shares in the company, valued at $520,371.62. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.70% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.