Isabella Bank (NASDAQ:ISBA) Director Jae Evans Sells 2,976 Shares

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

Isabella Bank Stock Performance

NASDAQ:ISBA opened at $32.01 on Thursday. Isabella Bank Corporation has a 52 week low of $19.70 and a 52 week high of $44.99. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $235.59 million, a price-to-earnings ratio of 14.62 and a beta of 0.11.

Isabella Bank Dividend Announcement

The business 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. The ex-dividend date is Friday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 3.5%. Isabella Bank’s dividend payout ratio is presently 51.14%.

Institutional Investors Weigh In On Isabella Bank

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC purchased a new stake in Isabella Bank during the second quarter worth about $1,501,000. FourThought Financial Partners LLC purchased a new stake in Isabella Bank during the second quarter worth $247,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in Isabella Bank in the second quarter valued at $77,000.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ISBA shares. Wall Street Zen upgraded shares of Isabella Bank to a “hold” rating in a research report on Tuesday, July 29th. Piper Sandler decreased their price target 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. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $34.00.

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.