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In a recent SEC filing, Jill Bourland, a director at Isabella Bank Corp (OTC:ISBA), disclosed the purchase of additional company shares. On January 16, Bourland acquired 7.8431 shares of Isabella Bank at a price of $25.50 per share, amounting to a total transaction value of $199. The purchase comes as the stock trades near its 52-week high of $26.23, having delivered an impressive 37% return over the past six months.
Following this transaction, Bourland now holds 4,920.111 shares directly. It is noted that these shares include those acquired through quarterly dividend reinvestment, with the company maintaining a current dividend yield of 4.39% and a 17-year track record of consistent dividend payments. This latest acquisition reflects Bourland's continued investment in the company, as reported in the Form 4 filing. InvestingPro analysis reveals 8 additional investment tips for Isabella Bank, including detailed valuation metrics and growth indicators.
In other recent news, Isabella Bank Corp showcased strong third-quarter performance, leading Piper Sandler to raise the bank's share target to $24 from the previous $22. The positive adjustment was largely driven by a 3% pre-provision net revenue upside, credited to net interest margin expansion and substantial organic balance sheet growth. Despite encountering elevated net charge-offs due to a one-off client event, Piper Sandler maintains a Neutral rating, expressing confidence in the bank's credit metrics.
The bank's 5.2% dividend yield, notably higher than its peers' 2.9%, makes it an attractive long-term holding. Nevertheless, Piper Sandler has noted limited visibility of catalysts that could drive an expansion in the bank's stock multiple. The firm has consequently revised its earnings per share estimates for Q4 2024 and the full year 2025 to $0.49 and $2.40, respectively. An EPS estimate of $2.70 has been set for 2026.
In addition to these recent developments, Isabella Bank faces a potential loss of approximately $1.6 million due to negative balances in deposit accounts linked to a single customer. Despite this, the bank declared a third-quarter cash dividend of $0.28 per common share, signifying its commitment to enhancing shareholder value. Piper Sandler has responded by increasing its earnings per share estimates for 2024 and 2025 to $1.80 and $2.10, respectively.
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