William M. Schaefer, the Chief Financial Officer of Isabella Bank Corp (OTC:ISBA), recently purchased shares of the company. According to a recent SEC filing, Schaefer acquired 169.0617 shares of Isabella Bank common stock on December 2, 2024, at a price of $23.66 per share. The transaction amounted to a total of $3,999. Following this acquisition, Schaefer's direct ownership of Isabella Bank stock increased to 5,835.9015 shares.The insider purchase comes as Isabella Bank, with a market capitalization of $184 million, trades near its 52-week high of $25. The bank stock offers a 4.5% dividend yield and has maintained dividend payments for 17 consecutive years. InvestingPro analysis reveals 10 additional investment insights for this regional bank, including detailed valuation metrics and growth indicators.
In other recent news, Isabella Bank Corp has seen several significant developments. Piper Sandler, following an analysis of the bank's third-quarter performance, raised the price target on Isabella Bank's shares to $24.00 from $22.00 while maintaining a Neutral rating. The bank's third-quarter results showed a 3% pre-provision net revenue (PPNR) upside, driven by net interest margin (NIM) expansion, which is expected to persist.
Isabella Bank Corp also disclosed 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 on the bank's shares following this disclosure. The total exposure to this customer, including loans and lines of credit secured by various assets, amounts to $4.0 million.
In other developments, 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 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, based on higher net interest income (NII) assumptions. The firm also established an EPS estimate of $2.70 for the year 2026.
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