First Bank (NASDAQ:FRBA) Releases Earnings Results

First Bank (NASDAQ:FRBA) released its quarterly earnings data on Thursday. The bank reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05, Zacks reports. The firm had revenue of $38.76 million for the quarter, compared to analysts’ expectations of $37.70 million. First Bank had a net margin of 17.45% and a return on equity of 9.57%.

First Bank Stock Up 4.3%

Shares of FRBA traded up $0.77 on Thursday, hitting $18.55. 118,609 shares of the stock traded hands, compared to its average volume of 83,919. The company has a market capitalization of $465.53 million, a PE ratio of 10.98 and a beta of 0.57. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.11 and a current ratio of 1.11. The business has a 50 day simple moving average of $17.91 and a 200 day simple moving average of $17.16. First Bank has a one year low of $14.40 and a one year high of $19.33.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FRBA shares. DA Davidson upped their target price on First Bank from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Zacks Research upgraded First Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Hovde Group restated an “outperform” rating and set a $20.00 price target (up from $18.00) on shares of First Bank in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Bank in a research note on Friday, September 18th. Finally, Piper Sandler increased their price objective on First Bank from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.67.

About First Bank

First Bank (NASDAQ: FRBA) is a full-service community bank headquartered in Hamilton, New Jersey. The bank provides banking services to individuals, families, professionals, small businesses and commercial customers through branches and digital banking channels.

Its products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, consumer loans, commercial real estate loans, construction financing and other business lending solutions.