Isabella Bank (NASDAQ:ISBA) Upgraded at Zacks Research

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

A number of other brokerages also recently issued reports on ISBA. Weiss Ratings reiterated a “buy (b-)” rating on shares of Isabella Bank in a report on Friday, September 25th. Piper Sandler raised Isabella Bank from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $43.00 to $50.00 in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $50.00.

Isabella Bank Stock Performance

NASDAQ:ISBA opened at $40.64 on Wednesday. Isabella Bank has a 1-year low of $35.51 and a 1-year high of $58.83. The stock has a 50 day simple moving average of $38.55 and a 200 day simple moving average of $42.51. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12. The stock has a market cap of $310.90 million, a P/E ratio of 14.16 and a beta of 0.05.

Isabella Bank (NASDAQ:ISBA) last released 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 for the quarter, compared to analyst estimates of $23.90 million. Isabella Bank had a net margin of 17.50% and a return on equity of 9.24%. Research analysts anticipate that Isabella Bank will post 2.83 earnings per share for the current year.

Isabella Bank Dividend Announcement

The business 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, September 28th. Isabella Bank’s dividend payout ratio is 39.02%.

Institutional Trading of Isabella Bank

Several institutional investors have recently added to or reduced their stakes in ISBA. Bank of America Corp DE bought a new position in Isabella Bank during the 2nd quarter valued at about $417,000. Legal & General Group Plc acquired a new stake in shares of Isabella Bank in the second quarter valued at approximately $27,000. BlackRock Inc. purchased a new position in shares of Isabella Bank in the second quarter valued at approximately $18,464,000. Deutsche Bank AG purchased a new position in Isabella Bank during the 2nd quarter worth approximately $268,000. Finally, Bank of New York Mellon Corp purchased a new position in Isabella Bank in the second quarter valued at about $663,000.

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.