Isabella Bank (NASDAQ:ISBA) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Isabella Bank (NASDAQ:ISBA) from a hold rating to a strong-buy rating in a report issued on Wednesday morning,Zacks reports.

Several other equities research analysts have also commented on ISBA. Piper Sandler raised shares of Isabella Bank from a “neutral” rating to an “overweight” rating and upped their price target for the company from $43.00 to $50.00 in a research report on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Isabella Bank in a report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat.com, Isabella Bank presently has a consensus rating of “Buy” and an average price target of $50.00.

Isabella Bank Stock Down 3.0%

Isabella Bank stock opened at $40.63 on Wednesday. The stock has a market cap of $310.86 million, a PE ratio of 14.16 and a beta of 0.05. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 0.85. Isabella Bank has a one year low of $35.51 and a one year high of $58.83. The stock has a fifty day moving average of $38.51 and a 200 day moving average of $42.56.

Isabella Bank (NASDAQ:ISBA) last posted its earnings results on Thursday, October 29th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The firm had revenue of $24.17 million during the quarter, compared to the consensus estimate of $23.90 million. Isabella Bank had a net margin of 17.50% and a return on equity of 9.16%. As a group, sell-side analysts predict that Isabella Bank will post 3.24 EPS for the current year.

Isabella Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 28th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, September 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.8%. Isabella Bank’s payout ratio is presently 39.02%.

Institutional Investors Weigh In On Isabella Bank

Several hedge funds and other institutional investors have recently modified their holdings of ISBA. BlackRock Inc. purchased a new position in Isabella Bank during the second quarter valued at $18,464,000. Bank of New York Mellon Corp bought a new stake in Isabella Bank during the second quarter valued at about $663,000. Bank of America Corp DE increased its position in Isabella Bank by 115.7% in the first quarter. Bank of America Corp DE now owns 9,316 shares of the company’s stock worth $425,000 after buying an additional 4,998 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in Isabella Bank in the first quarter worth about $403,000. Finally, Gradient Investments LLC purchased a new stake in Isabella Bank in the second quarter worth about $337,000.

Isabella Bank Company Profile

Isabella Bank Corporation is the bank holding company for Isabella Bank, a community banking institution headquartered in Mount Pleasant, Michigan. Founded in 1903, the bank serves individuals, families, businesses and community organizations primarily across central Michigan.

Isabella Bank provides a range of personal and business banking products, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing and other business lending.