Beamr video compression achieves up to 50% improvement for AVs
In recent trading activity, Jae A. Evans, a director at Isabella Bank Corp (OTC:ISBA), acquired 387 shares of the company’s common stock. The shares were purchased at a price of $25.7999 each, totaling approximately $9,984. Following this transaction, Evans now holds 32,333.949 shares, which includes shares acquired through quarterly dividend reinvestment. The purchase comes as Isabella Bank trades near its 52-week high of $26.23, with the stock offering a 4.34% dividend yield. According to InvestingPro, the company has maintained dividend payments for 17 consecutive years. This transaction highlights continued interest and investment in Isabella Bank by its board members. With a market capitalization of $191.68 million and a P/E ratio of 13.58, InvestingPro analysis suggests the stock is currently trading below its Fair Value. Subscribers can access 8 additional ProTips and comprehensive financial metrics to better evaluate this banking stock.
In other recent news, Isabella Bank Corp’s third-quarter performance showed a promising 3% pre-provision net revenue (PPNR) upside, driven by net interest margin (NIM) expansion. Analysts from Piper Sandler have raised the price target on the bank’s shares to $24.00 from $22.00, while maintaining a neutral rating. This decision comes despite an isolated client event leading to elevated net charge-offs (NCOs) in the third quarter.
Isabella Bank also declared a third-quarter cash dividend of $0.28 per common share, reflecting its commitment to enhancing shareholder value. The bank’s dividend yield stands at an attractive 5.2%, compared to its peers at 2.9%. Piper Sandler has increased its earnings per share (EPS) estimates for the fourth quarter of 2024 and the full year 2025 to $0.49 and $2.40, respectively, based on higher net interest income (NII) assumptions.
In addition to these developments, Isabella Bank faces a potential loss of approximately $1.6 million due to negative balances in deposit accounts associated with a single customer. The bank is currently assessing the potential credit losses. These recent developments shed light on the bank’s financial performance and future expectations as per analysts’ projections.
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