Isabella Bank (OTCMKTS:ISBA) Shares Cross Below Fifty Day Moving Average - Here's What Happened

Key Points

• Isabella Bank shares have fallen below their fifty-day moving average of $32.29, trading at $32.23 at one point during the day.
• Piper Sandler has reduced its price target for Isabella Bank from $37.50 to $34.00, maintaining a "neutral" rating.
• The bank recently announced a quarterly dividend of $0.28, equating to an annualized yield of 3.4% and a payout ratio of 51.14%.

Isabella Bank Co. (OTCMKTS:ISBA - Get Free Report) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $32.29 and traded as low as $32.23. Isabella Bank shares last traded at $32.50, with a volume of 5,020 shares changing hands.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their price target on shares of Isabella Bank from $37.50 to $34.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Isabella Bank presently has a consensus rating of "Hold" and a consensus price target of $34.00.

Isabella Bank Stock Up 3.0%

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 stock has a market cap of $239.20 million, a P/E ratio of 17.47 and a beta of 0.11. The stock's fifty day simple moving average is $32.29 and its 200-day simple moving average is $27.77.

Isabella Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $1.12 dividend on an annualized basis and a yield of 3.4%. Isabella Bank's payout ratio is currently 51.14%.

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

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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