Isabella Bank price target raised to $28 from $26.50 at Piper Sandler

Piper Sandler analyst Nathan Race raised the firm’s price target on Isabella Bank (ISBA) to $28 from $26.50 and keeps a Neutral rating on the shares. The firm notes the company generated solid Q4 results with in-line PPNR as stronger core fee income largely mitigated lower-than-expected net interest income partially due to less loan growth. Piper anticipates greater net interest margin expansion this year with upward loan re-pricing and MSD loan growth to aid ISBA’s outlook to generate more peer-like profitability metrics.