In a recent stock transaction, Jill Bourland, a director at Isabella Bank Corp (OTC:ISBA), acquired additional shares of the company. According to a filing made with the Securities and Exchange Commission, Bourland purchased 8.0418 shares at a price of $24.87 per share on December 16, 2024. The total value of the transaction amounted to approximately $199. Following this acquisition, Bourland now holds 4,902.7748 shares in Isabella Bank, a regional bank with a market capitalization of $183 million. The stock has shown impressive momentum with a 39% gain over the past six months and currently offers a 4.55% dividend yield, having maintained dividend payments for 17 consecutive years. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available to subscribers, including 6 more ProTips and detailed financial metrics.
In other recent news, Isabella Bank Corp has experienced a series of developments. Piper Sandler recently raised the price target for the bank's shares from $22.00 to $24.00, maintaining a neutral stance. This adjustment followed a review of the bank's third-quarter performance, which showed a 3% pre-provision net revenue (PPNR) upside, driven by net interest margin (NIM) expansion.
Despite encountering elevated net charge-offs due to an isolated client event, Piper Sandler remains confident that these were one-time occurrences. The bank also declared a third-quarter cash dividend of $0.28 per common share, showcasing its commitment to enhancing shareholder value.
However, the bank faces a potential loss of approximately $1.6 million due to negative balances in deposit accounts associated with a single customer. Piper Sandler maintained a neutral rating following this disclosure.
The bank's earnings per share (EPS) estimates for 2024 and 2025 have been raised to $0.49 and $2.40, respectively, by Piper Sandler, based on higher net interest income assumptions. The firm has also established an EPS estimate of $2.70 for 2026. These are the recent developments regarding Isabella Bank Corp.
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