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Jill Bourland, a director at Isabella Bank Corp (OTC:ISBA), recently acquired 465 shares of the company’s common stock. The shares were purchased on January 24 at a price of approximately $25.80 each, totaling around $12,000. The purchase comes as the stock trades near its 52-week high, with InvestingPro data showing a strong 34% return over the past six months. Following this transaction, Bourland’s direct ownership in Isabella Bank stands at 5,385 shares. This purchase reflects Bourland’s continued investment in the company, headquartered in Mount Pleasant, Michigan. The $191.7 million market cap bank maintains a 4.3% dividend yield and has sustained dividend payments for 17 consecutive years. InvestingPro analysis suggests the stock is currently undervalued, with several additional insights available to subscribers.
In other recent news, Isabella Bank Corp disclosed strong third-quarter performance, leading Piper Sandler to raise the bank’s share price target from $22.00 to $24.00 while maintaining a Neutral rating. The bank’s third-quarter results showcased a 3% pre-provision net revenue (PPNR) upside, driven by net interest margin (NIM) expansion, which is expected to continue. Despite elevated net charge-offs (NCOs) due to a single client event, Piper Sandler expressed confidence that these were one-time occurrences.
In addition, Isabella Bank Corp faces a potential loss of approximately $1.6 million due to negative balances in deposit accounts associated with a single customer. The total exposure to this customer, which includes loans and lines of credit secured by various assets, amounts to $4.0 million. The bank is currently assessing the potential credit losses.
Moreover, Isabella Bank declared a third-quarter cash dividend of $0.28 per common share, reflecting the company’s commitment to enhancing shareholder value. Piper Sandler has raised its earnings per share (EPS) estimates for the fourth quarter of 2024 and the full year 2025 to $0.49 and $2.40, respectively, up from the previous $0.47 and $2.10. The firm also established an EPS estimate of $2.70 for the year 2026. These recent developments provide insights into the bank’s financial performance and future expectations as per Piper Sandler’s analysis.
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