First Bank (NASDAQ:FRBA) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of First Bank (NASDAQ:FRBA) from a hold rating to a sell rating in a report published on Saturday, January 20th.

FRBA has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of First Bank from a hold rating to a strong-buy rating and set a $17.00 target price for the company in a research note on Friday, January 12th. Sandler O’Neill upgraded shares of First Bank from a hold rating to a buy rating and set a $15.00 price objective for the company in a research report on Wednesday, November 1st. Finally, ValuEngine upgraded shares of First Bank from a hold rating to a buy rating in a research report on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $15.33.

Shares of First Bank (NASDAQ FRBA) opened at $13.85 on Friday. First Bank has a 1 year low of $10.60 and a 1 year high of $14.95. The firm has a market capitalization of $157.84, a PE ratio of 27.16 and a beta of 0.36.

First Bank (NASDAQ:FRBA) last released its quarterly earnings data on Tuesday, January 30th. The bank reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The business had revenue of $12.86 million during the quarter, compared to the consensus estimate of $12.60 million. equities research analysts anticipate that First Bank will post 1.04 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This is a positive change from First Bank’s previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a yield of 0.87%. First Bank’s dividend payout ratio is presently 23.53%.

A number of large investors have recently modified their holdings of the business. Monashee Investment Management LLC acquired a new position in First Bank in the fourth quarter valued at $163,000. BlackRock Inc. increased its stake in First Bank by 13.4% in the fourth quarter. BlackRock Inc. now owns 43,820 shares of the bank’s stock valued at $607,000 after purchasing an additional 5,178 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in First Bank in the fourth quarter valued at $175,000. Wells Fargo & Company MN increased its stake in First Bank by 252.9% in the fourth quarter. Wells Fargo & Company MN now owns 11,769 shares of the bank’s stock valued at $163,000 after purchasing an additional 8,434 shares during the last quarter. Finally, Girard Partners LTD. acquired a new stake in First Bank during the fourth quarter worth about $139,000. 37.93% of the stock is currently owned by hedge funds and other institutional investors.

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About First Bank

First Bank is a commercial bank. The Company provides a range of lending, deposit and other financial products and services. It operates through Community Banking segment, which is engaged in providing a range of commercial and retail and related banking services. It offers a range of lending products to meet the needs of its customers located within its market areas, including commercial and industrial loans, commercial real estate loans (including owner-occupied, investor, and multi-family loans), residential real estate loans, and consumer and other loans.

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