Isabella Bank (OTCMKTS:ISBA) Price Target Lowered to $34.00 at Piper Sandler

Key Points

• Piper Sandler has reduced its price target for Isabella Bank (OTCMKTS:ISBA) from $37.50 to $34.00, maintaining a "neutral" rating, indicating a potential upside of 12.21% from the current stock price.
• Isabella Bank's shares opened at $30.30 and have recently experienced a decline of 6.1%, with a market capitalization of $223.70 million.
• The company has approved a stock buyback plan, suggesting that the board believes the stock is currently undervalued.

Isabella Bank (OTCMKTS:ISBA - Free Report) had its price objective lowered by Piper Sandler from $37.50 to $34.00 in a report issued on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Isabella Bank Price Performance

Shares of ISBA traded up $1.61 during trading hours on Tuesday, reaching $32.45. The company had a trading volume of 6,931 shares, compared to its average volume of 9,052. The firm has a 50 day simple moving average of $31.25 and a 200-day simple moving average of $27.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $239.58 million, a price-to-earnings ratio of 17.45 and a beta of 0.10. Isabella Bank has a 12-month low of $17.55 and a 12-month high of $44.99.

Isabella Bank announced that its board has initiated a stock buyback program on Thursday, May 1st that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its shares are undervalued.

Isabella Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, June 26th. Isabella Bank's dividend payout ratio (DPR) is currently 51.14%.

Insider Activity

In related news, Treasurer Michael P. Prisby sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $27.89, for a total value of $27,890.00. Following the sale, the treasurer directly owned 18,658 shares of the company's stock, valued at approximately $520,371.62. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 400 shares of company stock valued at $11,000 over the last 90 days. 9.70% of the stock is currently owned by company insiders.

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.