Insider Selling: Isabella Bank (NASDAQ:ISBA) Director Sells 2,976 Shares of Stock

Key Points

• Director Jae Evans sold 2,976 shares of Isabella Bank for $93,148.80, reducing their ownership by 9.13%, now holding 29,615 shares valued at approximately $926,949.50.
• Isabella Bank announced a quarterly dividend of $0.28 per share, to be paid on September 30th, representing an annualized payout of $1.12 and a dividend yield of 3.5%.
• Multiple analysts have set target prices for Isabella Bank, with Piper Sandler lowering it from $37.50 to $34.00, and the stock currently has a consensus rating of "Hold."

Isabella Bank Corporation (NASDAQ:ISBA - Get Free Report) Director Jae A. Evans sold 2,976 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $31.30, for a total transaction of $93,148.80. Following the completion of the sale, the director directly owned 29,615 shares of the company's stock, valued at approximately $926,949.50. This trade represents a 9.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Isabella Bank Price Performance

ISBA traded up $0.26 on Friday, reaching $32.46. The company had a trading volume of 8,101 shares, compared to its average volume of 8,836. Isabella Bank Corporation has a 1 year low of $19.75 and a 1 year high of $44.99. The stock has a market cap of $238.91 million, a PE ratio of 14.82 and a beta of 0.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.81 and a quick ratio of 0.81.

Isabella Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 26th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, September 26th. Isabella Bank's dividend payout ratio is presently 51.14%.

Analyst Upgrades and Downgrades

ISBA has been the subject of a number of research reports. Wall Street Zen raised shares of Isabella Bank to a "hold" rating in a report on Tuesday, July 29th. Piper Sandler reduced their target price on shares of Isabella Bank from $37.50 to $34.00 and set a "neutral" rating for the company in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Isabella Bank currently has a consensus rating of "Hold" and a consensus target price of $34.00.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. FourThought Financial Partners LLC purchased a new position in Isabella Bank during the second quarter worth about $247,000. Geode Capital Management LLC purchased a new position in Isabella Bank during the second quarter worth about $1,501,000. Finally, Atlantic Union Bankshares Corp purchased a new position in Isabella Bank during the second quarter worth about $77,000.

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.