Shares of First Bank (NASDAQ:FRBA) have earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Brokerages have set a twelve-month consensus price objective of $14.00 for the company and are forecasting that the company will post $0.27 earnings per share for the current quarter, according to Zacks. Zacks has also assigned First Bank an industry rank of 167 out of 256 based on the ratings given to related companies.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of First Bank from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Tuesday, October 16th. ValuEngine lowered shares of First Bank from a “hold” rating to a “sell” rating in a report on Thursday.
Shares of FRBA stock traded down $0.13 during trading hours on Monday, reaching $11.40. 81,994 shares of the stock traded hands, compared to its average volume of 42,588. First Bank has a 1-year low of $11.13 and a 1-year high of $15.00. The firm has a market capitalization of $205.76 million, a P/E ratio of 15.83 and a beta of 0.51.
First Bank (NASDAQ:FRBA) last released its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. The firm had revenue of $15.74 million for the quarter, compared to analyst estimates of $14.64 million. Equities research analysts predict that First Bank will post 1.05 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in FRBA. Essex Investment Management Co. LLC increased its stake in First Bank by 4.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 129,078 shares of the bank’s stock valued at $1,697,000 after buying an additional 5,230 shares during the period. First Trust Advisors LP increased its stake in First Bank by 48.5% in the 3rd quarter. First Trust Advisors LP now owns 23,399 shares of the bank’s stock valued at $308,000 after buying an additional 7,646 shares during the period. Victory Capital Management Inc. increased its stake in First Bank by 18.3% in the 3rd quarter. Victory Capital Management Inc. now owns 64,700 shares of the bank’s stock valued at $851,000 after buying an additional 10,000 shares during the period. Tower Research Capital LLC TRC increased its stake in First Bank by 1,278.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 12,781 shares of the bank’s stock valued at $178,000 after buying an additional 11,854 shares during the period. Finally, Rhumbline Advisers acquired a new position in First Bank in the 2nd quarter valued at approximately $198,000. Institutional investors and hedge funds own 50.02% of the company’s stock.
About First Bank
First Bank provides various banking products and services to individuals, businesses, and governmental entities. The company accepts various deposits, including non-interest bearing demand deposits, interest bearing demand accounts, money market accounts, savings accounts, and certificates of deposit, as well as commercial checking accounts.
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