First Bank (NASDAQ:FRBA) Earns Neutral Rating from Analysts at DA Davidson

DA Davidson assumed coverage on shares of First Bank (NASDAQ:FRBA) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $18.00 price objective on the bank’s stock.

Several other brokerages have also commented on FRBA. Weiss Ratings reissued a “buy (b)” rating on shares of First Bank in a research note on Monday, December 29th. Zacks Research cut First Bank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.75.

First Bank Stock Performance

Shares of NASDAQ:FRBA opened at $15.92 on Wednesday. First Bank has a 1-year low of $12.74 and a 1-year high of $18.11. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. The firm has a fifty day moving average price of $16.79 and a 200 day moving average price of $16.35.

First Bank (NASDAQ:FRBA) last announced its earnings results on Monday, January 26th. The bank reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. First Bank had a return on equity of 10.32% and a net margin of 17.76%.The company had revenue of $38.46 million for the quarter, compared to the consensus estimate of $37.42 million. On average, equities analysts anticipate that First Bank will post 1.78 EPS for the current fiscal year.

First Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.36 annualized dividend and a yield of 2.3%. First Bank’s dividend payout ratio is 20.69%.

Hedge Funds Weigh In On First Bank

Several hedge funds and other institutional investors have recently modified their holdings of FRBA. Osaic Holdings Inc. boosted its holdings in First Bank by 4,782.0% in the 2nd quarter. Osaic Holdings Inc. now owns 199,236 shares of the bank’s stock worth $3,082,000 after acquiring an additional 195,155 shares during the period. American Century Companies Inc. lifted its position in shares of First Bank by 14.2% during the second quarter. American Century Companies Inc. now owns 251,561 shares of the bank’s stock worth $3,892,000 after purchasing an additional 31,370 shares in the last quarter. Bailard Inc. purchased a new position in shares of First Bank in the second quarter valued at $294,000. CSM Advisors LLC acquired a new stake in First Bank during the 2nd quarter valued at $2,139,000. Finally, Los Angeles Capital Management LLC acquired a new stake in First Bank during the 2nd quarter valued at $222,000. 64.86% of the stock is owned by institutional investors and hedge funds.

First Bank Company Profile

First Bank provides various banking products and services to small to mid-sized businesses and individuals. 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. It also offers various loan products comprising commercial and industrial loans, which include line of credit, inventory, equipment, and short-term working capital financing; commercial real estate loans, such as owner-occupied, investor, construction and development, and multi-family loans; residential real estate loans comprising residential mortgages, first and second lien home equity loans, and revolving lines of credit; and consumer and other loans consists of auto, personal, traditional installment, and other loans.