Isabella Bank (NASDAQ:ISBA) Director Sells $93,148.80 in 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 Evans sold 2,976 shares of Isabella Bank stock in a transaction that occurred 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 transaction, the director directly owned 29,615 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink.

Isabella Bank Trading Up 0.1%

Shares of NASDAQ ISBA traded up $0.02 during trading on Monday, reaching $32.12. 7,931 shares of the stock were exchanged, compared to its average volume of 8,765. Isabella Bank Corporation has a twelve month low of $19.00 and a twelve month high of $44.99. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.33. The stock has a market cap of $236.40 million, a P/E ratio of 14.67 and a beta of 0.11.

Isabella Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 26th will be paid 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 is Friday, September 26th. Isabella Bank's payout ratio is 51.14%.

Analysts Set New Price Targets

Several research firms have weighed in on ISBA. Piper Sandler lowered their target price on shares of Isabella Bank from $37.50 to $34.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. Wall Street Zen upgraded shares of Isabella Bank to a "hold" rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $34.00.

Hedge Funds Weigh In On Isabella Bank

Large investors have recently bought and sold shares of the stock. FourThought Financial Partners LLC acquired a new position in shares of Isabella Bank in the 2nd quarter valued at $247,000. Geode Capital Management LLC bought a new position in shares of Isabella Bank in the 2nd quarter valued at about $1,501,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Isabella Bank in the 2nd quarter valued at approximately $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.

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