Isabella Bank (NASDAQ:ISBA) Stock Moved Up to “Hold” by Zacks Research

Zacks Research upgraded shares of Isabella Bank (NASDAQ:ISBA) from a strong sell rating to a hold rating in a report published on Thursday morning,Zacks reports.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Isabella Bank in a research report on Tuesday, June 30th. Piper Sandler decreased their price objective on Isabella Bank from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, July 27th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $43.00.

Isabella Bank Price Performance

NASDAQ ISBA opened at $38.45 on Thursday. The firm’s 50 day moving average is $39.46 and its 200-day moving average is $41.67. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $293.37 million and a PE ratio of 14.14. Isabella Bank has a 12-month low of $33.24 and a 12-month high of $58.83.

Isabella Bank (NASDAQ:ISBA) last announced its earnings results on Thursday, July 23rd. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.23). The business had revenue of $22.68 million for the quarter, compared to analyst estimates of $23.00 million. Isabella Bank had a return on equity of 8.48% and a net margin of 16.78%. Equities research analysts anticipate that Isabella Bank will post 3.24 earnings per share for the current fiscal year.

Isabella Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 28th will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, September 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.9%. Isabella Bank’s dividend payout ratio is currently 41.18%.

Hedge Funds Weigh In On Isabella Bank

Several hedge funds and other institutional investors have recently made changes to their positions in ISBA. Legal & General Group Plc acquired a new position in Isabella Bank during the second quarter worth $27,000. Bank of America Corp DE raised its position in Isabella Bank by 115.7% during the first quarter. Bank of America Corp DE now owns 9,316 shares of the company’s stock worth $425,000 after acquiring an additional 4,998 shares in the last quarter. Deutsche Bank AG acquired a new stake in Isabella Bank in the second quarter valued at $268,000. Gradient Investments LLC acquired a new stake in Isabella Bank in the second quarter valued at $337,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Isabella Bank in the 1st quarter valued at about $403,000.

About Isabella Bank

Isabella Bank Corporation is a bank holding company headquartered in Mount Pleasant, Michigan. Through its subsidiary, Isabella Bank, the company provides community banking services to individuals, families, businesses and organizations.

Isabella Bank’s offerings include checking and savings accounts, certificates of deposit, consumer loans, residential mortgage lending, commercial loans and lines of credit. The bank also provides treasury management and other business banking services, along with investment, trust and wealth management services through its financial services operations.

Founded in 1903, Isabella Bank serves customers through a network of banking offices and automated teller machines in central Michigan.