Isabella Bank price target raised to $22 from $20 at Piper Sandler

Piper Sandler analyst Nathan Race raised the firm’s price target on Isabella Bank to $22 from $20 and keeps a Neutral rating on the shares. The firm says the company generated encouraging Q2 results that included a stronger net interest income inflection with greater-than-anticipated net interest margin expansion, continued solid loan growth, and stable credit metrics. While Piper anticipates limited near-term multiple expansion given Isabella Bank’s sub-optimal profitability outlook, the firm continues to view it as a solid long-term holding with an attractive dividend yield.