Isabella Bank price target lowered to $34 from $37.50 at Piper Sandler

Piper Sandler lowered the firm’s price target on Isabella Bank (ISBA) to $34 from $37.50 and keeps a Neutral rating on the shares. Piper Sandler raised the firm’s price target on Isabella Bank to $37 from $34.50 and keeps a Neutral rating on the shares. The firm notes the company again generated very solid results in Q2 as PPNR exceeded its estimate by 10% driven by stronger net interest income and core fee income. Piper continues to believe Isabella Bank is a compelling long-term holding given its improving profitability outlook via clear visibility of prospects for additional net interest margin with fixed rate asset upward re-pricing and excess liquidity re-deployment as well as low-to-mid-single-digit growth expectations in loans and deposits.