First Bank (FRBA) Rating Increased to Hold at BidaskClub

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.

How to Become a New Pot Stock Millionaire

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.

WARNING: “First Bank (FRBA) Rating Increased to Hold at BidaskClub” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://www.dispatchtribunal.com/2018/04/24/first-bank-frba-rating-increased-to-hold-at-bidaskclub.html.

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.

Receive News & Ratings for First Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bank and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply