Isabella Bank (NASDAQ:ISBA) Posts Earnings Results, Beats Expectations By $0.11 EPS
Isabella Bank (NASDAQ:ISBA) reported quarterly earnings of $0.71 EPS, exceeding analysts' expectations of $0.60 by $0.11. The bank achieved a return on equity of 7.83% and a net margin of 15.18%. Despite the positive earnings, the stock fell 0.3% to $35.76. The company also declared a quarterly dividend of $0.28, yielding 3.1%. Analysts maintain a consensus rating of "Moderate Buy" with a target price of $34.00. Insider trading activity included a sale of 2,976 shares by Director Jae A. Evans.
Isabella Bank (NASDAQ:ISBA - Get Free Report) issued its earnings results on Monday. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.11, Zacks reports. Isabella Bank had a net margin of 15.18% and a return on equity of 7.83%.
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Isabella Bank Stock Down 0.3%
Isabella Bank stock traded down $0.12 during mid-day trading on Monday, hitting $35.76. The company had a trading volume of 2,679 shares, compared to its average volume of 9,948. The stock has a market cap of $263.19 million, a PE ratio of 16.33 and a beta of 0.12. Isabella Bank has a 1 year low of $20.65 and a 1 year high of $44.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.81 and a current ratio of 0.81. The business has a fifty day moving average of $34.24.
Isabella Bank Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 26th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, September 26th. Isabella Bank's dividend payout ratio is currently 51.14%.
Insider Buying and Selling
In other news, Director Jae A. Evans sold 2,976 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $31.30, for a total value of $93,148.80. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Isabella Bank
A hedge fund recently bought a new stake in Isabella Bank stock. Geode Capital Management LLC acquired a new position in Isabella Bank Corporation (NASDAQ:ISBA - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,739 shares of the company's stock, valued at approximately $1,501,000. Geode Capital Management LLC owned approximately 0.67% of Isabella Bank as of its most recent filing with the Securities and Exchange Commission (SEC).
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on ISBA shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Isabella Bank in a research note on Tuesday, October 14th. Wall Street Zen raised shares of Isabella Bank to a "hold" rating in a research report on Tuesday, July 29th. Finally, 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 report on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.
Check Out Our Latest Report on ISBA
Isabella Bank Company Profile
(Get Free Report)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.
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