MT. PLEASANT, MI—Peggy Wheeler, the Chief Operations Officer at Isabella Bank Corp (OTC:ISBA), recently acquired additional shares of the bank's common stock. According to a recent SEC filing, Wheeler purchased 21.1327 shares at a price of $23.66 per share, totaling approximately $499. The purchase comes as Isabella Bank's stock trades near its 52-week high of $25, having delivered a strong 31% return over the past six months. This acquisition brings Wheeler's total direct ownership to 8,715.7337 shares.
The transaction, dated December 2, 2024, reflects Wheeler's ongoing investment in Isabella Bank, a state commercial bank based in Mt. Pleasant, Michigan.
Investors often monitor insider transactions like these for potential insights into the company's prospects and management's confidence in its future performance. Trading at a P/E ratio of 13.6, InvestingPro analysis suggests the stock is fairly valued, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US equities.
In other recent news, Isabella Bank Corp has been the focus of several significant developments. Piper Sandler, following an analysis of the bank's third-quarter performance, has raised the price target on Isabella Bank's shares to $24.00 from $22.00 while maintaining a neutral rating. This decision comes in light of a 3% pre-provision net revenue (PPNR) upside, driven by net interest margin (NIM) expansion, and strong organic balance sheet growth.
In addition, 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, due to higher net interest income (NII) assumptions. The firm has also established an EPS estimate of $2.70 for the year 2026. These adjustments reflect their confidence in Isabella Bank's financial performance.
However, Isabella Bank 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. Despite this, Piper Sandler maintains a neutral rating on the bank's shares.
Lastly, Isabella Bank has declared a third-quarter cash dividend of $0.28 per common share, demonstrating the company's commitment to enhancing shareholder value. This decision was appreciated by Piper Sandler, which highlighted the bank's attractive 5.6% dividend yield, surpassing the peer average of 3.2%. These recent developments provide insights into Isabella Bank's financial performance and future expectations as per analysts' projections.
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