Isabella Bank (OTCMKTS:ISBA) Price Target Cut to $34.00 by Analysts 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 cut by Piper Sandler from $37.50 to $34.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Isabella Bank Trading Up 2.1%

Shares of ISBA stock traded up $0.63 during trading hours on Tuesday, hitting $29.98. The company had a trading volume of 6,841 shares, compared to its average volume of 9,099. The company's fifty day moving average is $31.10 and its 200 day moving average is $27.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.81 and a quick ratio of 0.81. Isabella Bank has a fifty-two week low of $17.55 and a fifty-two week high of $44.99. The stock has a market capitalization of $221.34 million, a PE ratio of 16.12 and a beta of 0.10.

Isabella Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend was Thursday, June 26th. Isabella Bank's dividend payout ratio is currently 51.14%.

Isabella Bank declared that its Board of Directors has initiated a share repurchase program on Thursday, May 1st that allows the company to buyback 0 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Transactions at Isabella Bank

In other news, Treasurer Michael P. Prisby sold 1,000 shares of the business'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 completion of the transaction, the treasurer owned 18,658 shares of the company's stock, valued at $520,371.62. The trade was a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have bought a total of 400 shares of company stock worth $11,000 in the last ninety days. Insiders own 9.70% of the company's stock.

Isabella Bank Company Profile

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.