We recently published a list of 10 Stocks Insiders Are Buying This Year. In this article, we are going to take a look at where Isabella Bank Corporation (OTC:ISBA) stands against other stocks that insiders are buying this year.
Even though this is just the beginning of the year, we thought it might be interesting to see what stocks have attracted the most attention from insiders. Why? Sometimes, when executives or insiders acquire shares early in the year, it could mean that they expect strong financial results or positive company developments.
On the other hand, insiders sometimes sell shares at the beginning of the year for tax reasons. For example, they can sell shares to harvest tax loss or to balance out gains/losses from the previous year.
Both insider selling and buying can be driven by various motives, however, it’s important to consider these moves within the broader context of the company’s fundamentals, industry trends, and overall market conditions. That’s why due diligence before any investment is of the utmost importance. However, insider trading activity in combination with other relevant determinants can offer valuable insights into a company’s capabilities, helping investors make more informed investment decisions.
To identify the 10 stocks insiders are buying this year we used Insider Monkey’s insider trading stock screener and looked for stocks with at least five insiders buying since the beginning of the year. With each stock, we note the number of insiders who recently bought shares.
Our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds, focusing on insider trading and stock picks from hedge fund investor newsletters and conferences. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
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Isabella Bank Corporation (OTCMKTS:ISBA)
Number of Insiders Buying: 10
Isabella Bank Corporation (OTC:ISBA) is the parent holding company of Isabella Bank, a state-chartered community bank with headquarters in Michigan. Isabella Bank was established in 1903 and has been committed to serving its customers’ and communities’ local banking needs for over 120 years. The Bank offers personal and commercial lending and deposit products, as well as investment, trust, and estate planning services.
This year, 10 insiders, including the President and CEO, CFO, acquired a total of around $95.684 worth of Isabella Bank shares at an average price of $25.14 per share. The stock is currently trading at $25.44, having lost 1.78% since the beginning of the year. Over the past 12 months, the company’s shares have gone up 24.10%.
For the full 2024, Isabella Bank (OTC:ISBA) disclosed a net income of $13.9 million, or $1.86 per diluted share, compared to $18.2 million, or $2.40 per diluted share for 2023. The non-GAAP measure of 2024 core earnings was $15.0 million, or $2.01 per diluted share, compared to $18.0 million, or $2.37 per diluted share, in 2023.
One Wall Street analyst has a “Hold” rating on Isabella Bank stock, with a price target of $28, according to data from TipRanks.
Overall, ISBA ranks 2nd on our list of stocks that insiders are buying this year. While we acknowledge the potential of ISBA, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ISBA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap
Disclosure: None. This article is originally published at Insider Monkey.
