BidaskClub upgraded shares of First Bank (NASDAQ:FRBA) from a sell rating to a hold rating in a report published on Saturday morning.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded First Bank from a strong-buy rating to a hold rating in a report on Tuesday, March 13th. ValuEngine raised First Bank from a hold rating to a buy rating in a report on Sunday, December 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $15.33.
Shares of NASDAQ FRBA opened at $14.40 on Friday. The stock has a market capitalization of $253.71, a price-to-earnings ratio of 20.00 and a beta of 0.53. First Bank has a fifty-two week low of $11.15 and a fifty-two week high of $14.95.
First Bank (NASDAQ:FRBA) last issued its quarterly earnings results on Tuesday, January 30th. The bank reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The business had revenue of $12.86 million during the quarter, compared to analyst estimates of $12.60 million. sell-side analysts forecast that First Bank will post 1.06 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its holdings in First Bank by 348.4% in the fourth quarter. Renaissance Technologies LLC now owns 146,600 shares of the bank’s stock worth $2,030,000 after acquiring an additional 113,903 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of First Bank during the fourth quarter worth about $1,839,000. Kennedy Capital Management Inc. lifted its holdings in shares of First Bank by 101.8% during the fourth quarter. Kennedy Capital Management Inc. now owns 112,683 shares of the bank’s stock worth $1,561,000 after purchasing an additional 56,843 shares during the period. Millennium Management LLC acquired a new stake in shares of First Bank during the fourth quarter worth about $1,258,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of First Bank by 30.6% during the third quarter. Dimensional Fund Advisors LP now owns 52,694 shares of the bank’s stock worth $701,000 after purchasing an additional 12,354 shares during the period. 39.99% of the stock is owned by institutional investors and hedge funds.
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About First Bank
First Bank provides various banking products and services to individuals, businesses, and governmental entities in New Jersey and Pennsylvania. 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.
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