Isabella Bank Corporation (NASDAQ:ISBA) Short Interest Up 138.0% in September

Key Points

• Short interest in Isabella Bank Corporation rose sharply by 138.0% in September, from 30,000 shares to 71,400 shares, indicating increased investor pessimism about the stock.
• Director Jae A. Evans sold 2,976 shares of Isabella Bank stock on September 5th, reducing his ownership by 9.13% and highlighting potential insider selling activity.
• The company declared a quarterly dividend of $0.28 per share with a yield of 3.1%, reflecting a payout ratio of 51.14% and providing income to shareholders.

Isabella Bank Corporation (NASDAQ:ISBA - Get Free Report) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 71,400 shares, a growth of 138.0% from the September 15th total of 30,000 shares. Currently, 1.1% of the company's stock are short sold. Based on an average daily trading volume, of 12,500 shares, the short-interest ratio is currently 5.7 days. Based on an average daily trading volume, of 12,500 shares, the short-interest ratio is currently 5.7 days. Currently, 1.1% of the company's stock are short sold.

Insider Transactions at Isabella Bank

In other news, Director Jae A. Evans sold 2,976 shares of Isabella Bank stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $31.30, for a total transaction of $93,148.80. Following the sale, the director owned 29,615 shares in the company, valued at approximately $926,949.50. The trade was a 9.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.70% of the stock is owned by company insiders.

Institutional Trading of Isabella Bank

Hedge funds and other institutional investors have recently modified their holdings of the business. Atlantic Union Bankshares Corp purchased a new stake in shares of Isabella Bank during the second quarter worth about $77,000. FourThought Financial Partners LLC purchased a new stake in shares of Isabella Bank during the second quarter worth about $247,000. Finally, Geode Capital Management LLC acquired a new position in Isabella Bank in the second quarter worth about $1,501,000.

Analysts Set New Price Targets

ISBA has been the topic of a number of research analyst reports. Piper Sandler cut their target price on Isabella Bank from $37.50 to $34.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 29th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Isabella Bank in a research report on Tuesday, October 14th. Finally, Wall Street Zen raised Isabella Bank to a "hold" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Isabella Bank currently has an average rating of "Moderate Buy" and a consensus target price of $34.00.

Isabella Bank Stock Performance

Shares of ISBA traded up $0.70 during trading hours on Friday, hitting $35.80. The stock had a trading volume of 9,351 shares, compared to its average volume of 14,717. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $263.49 million, a price-to-earnings ratio of 16.35 and a beta of 0.12. The stock has a fifty day simple moving average of $33.95. Isabella Bank has a 12-month low of $20.10 and a 12-month high of $44.99.

Isabella Bank (NASDAQ:ISBA - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.58 EPS for the quarter. Isabella Bank had a return on equity of 7.83% and a net margin of 15.18%.The company had revenue of $17.94 million for the quarter.

Isabella Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 26th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, September 26th. Isabella Bank's payout ratio is presently 51.14%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.