Analysts Set First Bank (NASDAQ:FRBA) PT at $17.83

Shares of First Bank (NASDAQ:FRBA) have received an average recommendation of “Buy” from the four analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $18.25.

Several analysts have commented on FRBA shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Bank in a research note on Wednesday, October 8th. DA Davidson downgraded First Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Zacks Research raised First Bank from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th.

Institutional Trading of First Bank

Several hedge funds have recently made changes to their positions in FRBA. Tower Research Capital LLC TRC raised its holdings in First Bank by 117.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,654 shares of the bank’s stock valued at $41,000 after buying an additional 1,433 shares during the period. Quaker Wealth Management LLC boosted its stake in First Bank by 200.4% during the second quarter. Quaker Wealth Management LLC now owns 3,045 shares of the bank’s stock worth $47,000 after buying an additional 6,077 shares during the period. New York State Common Retirement Fund increased its position in First Bank by 118.3% during the third quarter. New York State Common Retirement Fund now owns 2,952 shares of the bank’s stock valued at $48,000 after acquiring an additional 1,600 shares during the last quarter. CWM LLC raised its stake in shares of First Bank by 91.8% in the third quarter. CWM LLC now owns 3,421 shares of the bank’s stock valued at $56,000 after acquiring an additional 1,637 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of First Bank by 21.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,620 shares of the bank’s stock worth $71,000 after acquiring an additional 825 shares during the last quarter. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

First Bank Stock Performance

Shares of FRBA opened at $15.64 on Wednesday. The business’s 50 day moving average is $16.13 and its 200 day moving average is $15.48. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.15 and a quick ratio of 1.15. First Bank has a 12-month low of $12.74 and a 12-month high of $17.40.

First Bank (NASDAQ:FRBA) last announced its quarterly earnings data on Wednesday, October 22nd. The bank reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $37.97 million during the quarter, compared to analyst estimates of $36.76 million. First Bank had a net margin of 17.27% and a return on equity of 10.12%. Equities research analysts expect that First Bank will post 1.78 EPS for the current fiscal year.

First Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Friday, November 7th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, November 7th. First Bank’s payout ratio is currently 14.46%.

About First Bank

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.