Shares of First Bank (NASDAQ:FRBA) have earned a consensus broker rating score of 1.67 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company.
Brokerages have set a twelve-month consensus target price of $15.50 for the company and are anticipating that the company will post $0.22 earnings per share for the current quarter, according to Zacks. Zacks has also given First Bank an industry rank of 15 out of 265 based on the ratings given to its competitors.
FRBA has been the subject of several analyst reports. ValuEngine upgraded First Bank from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded First Bank from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Thursday, November 2nd. Sandler O’Neill upgraded 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, BidaskClub downgraded First Bank from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th.
Institutional investors and hedge funds have recently modified their holdings of the business. Navellier & Associates Inc raised its position in First Bank by 15.0% in the 2nd quarter. Navellier & Associates Inc now owns 11,500 shares of the bank’s stock valued at $134,000 after purchasing an additional 1,500 shares during the last quarter. First Trust Advisors LP bought a new position in First Bank in the 3rd quarter valued at $134,000. GSA Capital Partners LLP bought a new position in First Bank in the 2nd quarter valued at $144,000. Northern Trust Corp bought a new position in First Bank in the 2nd quarter valued at $265,000. Finally, OxFORD Asset Management LLP raised its position in First Bank by 94.8% in the 2nd quarter. OxFORD Asset Management LLP now owns 31,124 shares of the bank’s stock valued at $363,000 after purchasing an additional 15,144 shares during the last quarter. Hedge funds and other institutional investors own 37.17% of the company’s stock.
First Bank (NASDAQ:FRBA) remained flat at $$13.90 during trading on Friday. The company had a trading volume of 945 shares, compared to its average volume of 19,790. The firm has a market cap of $242.38, a P/E ratio of 27.26 and a beta of 0.58. First Bank has a 52 week low of $10.60 and a 52 week high of $14.95.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a $0.03 dividend. This is an increase from First Bank’s previous quarterly dividend of $0.02. The ex-dividend date is Thursday, February 8th. This represents a $0.12 annualized dividend and a yield of 0.86%. First Bank’s payout ratio is presently 15.69%.
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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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