Isabella Bank (NASDAQ:ISBA) Stock Rating Upgraded by Piper Sandler

Isabella Bank (NASDAQ:ISBA) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued on Wednesday, Marketbeat.com reports. The firm presently has a $50.00 target price on the stock. Piper Sandler‘s target price indicates a potential upside of 25.38% from the company’s previous close.

Several other equities analysts have also commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Isabella Bank in a research report on Friday, September 25th. Zacks Research raised shares of Isabella Bank from a “strong sell” rating to a “hold” rating in a report on Thursday, September 24th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Isabella Bank presently has an average rating of “Moderate Buy” and an average price target of $50.00.

Isabella Bank Trading Down 2.3%

NASDAQ:ISBA opened at $39.88 on Wednesday. Isabella Bank has a 12-month low of $35.51 and a 12-month high of $58.83. The firm has a market capitalization of $305.08 million, a P/E ratio of 13.79 and a beta of 0.05. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.84 and a quick ratio of 0.84. The business has a 50 day simple moving average of $38.41 and a 200 day simple moving average of $42.65.

Isabella Bank (NASDAQ:ISBA) last issued its earnings results on Thursday, October 29th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company had revenue of $24.17 million during the quarter, compared to analyst estimates of $23.90 million. Isabella Bank had a return on equity of 9.24% and a net margin of 17.50%. Equities research analysts predict that Isabella Bank will post 3.24 EPS for the current year.

Institutional Trading of Isabella Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in ISBA. Legal & General Group Plc acquired a new stake in shares of Isabella Bank in the 2nd quarter worth approximately $27,000. Bank of America Corp DE boosted its holdings in shares of Isabella Bank by 115.7% in the first quarter. Bank of America Corp DE now owns 9,316 shares of the company’s stock valued at $425,000 after acquiring an additional 4,998 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of Isabella Bank during the second quarter valued at approximately $268,000. Gradient Investments LLC acquired a new position in shares of Isabella Bank during the second quarter valued at approximately $337,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Isabella Bank during the first quarter valued at approximately $403,000.

About Isabella Bank

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.