Equities research analysts expect First Bank (NASDAQ:FRBA) to post sales of $19.75 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for First Bank’s earnings, with the highest sales estimate coming in at $19.80 million and the lowest estimate coming in at $19.70 million. First Bank posted sales of $17.68 million in the same quarter last year, which would indicate a positive year over year growth rate of 11.7%. The company is scheduled to announce its next earnings results before the market opens on Thursday, January 28th.
On average, analysts expect that First Bank will report full-year sales of $74.90 million for the current year, with estimates ranging from $74.80 million to $75.00 million. For the next financial year, analysts expect that the firm will report sales of $76.35 million, with estimates ranging from $75.90 million to $76.80 million. Zacks’ sales averages are an average based on a survey of analysts that cover First Bank.
First Bank (NASDAQ:FRBA) last announced its quarterly earnings data on Saturday, October 31st. The bank reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.08. First Bank had a return on equity of 8.29% and a net margin of 19.27%. The company had revenue of $19.88 million for the quarter, compared to the consensus estimate of $18.60 million.
Several research firms have issued reports on FRBA. TheStreet raised shares of First Bank from a “c” rating to a “b-” rating in a research report on Tuesday, November 10th. DA Davidson reiterated a “buy” rating on shares of First Bank in a report on Monday, September 14th. Finally, Zacks Investment Research raised First Bank from a “hold” rating to a “strong-buy” rating and set a $9.00 price objective on the stock in a research note on Friday, October 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the stock. First Bank currently has a consensus rating of “Buy” and a consensus price target of $10.00.
NASDAQ FRBA opened at $9.38 on Friday. The stock has a market cap of $175.97 million, a PE ratio of 10.20 and a beta of 0.93. First Bank has a 12 month low of $6.00 and a 12 month high of $11.19. The company’s 50-day moving average price is $9.41 and its 200-day moving average price is $7.53. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.97.
Large investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in shares of First Bank by 4.3% in the 2nd quarter. Bank of America Corp DE now owns 84,248 shares of the bank’s stock worth $550,000 after purchasing an additional 3,438 shares during the period. Goldman Sachs Group Inc. raised its stake in First Bank by 97.2% in the second quarter. Goldman Sachs Group Inc. now owns 32,403 shares of the bank’s stock worth $211,000 after buying an additional 15,972 shares in the last quarter. Zebra Capital Management LLC purchased a new stake in First Bank during the third quarter worth $102,000. Mackay Shields LLC bought a new stake in First Bank during the 3rd quarter valued at $131,000. Finally, BlackRock Inc. increased its holdings in shares of First Bank by 7.5% in the 3rd quarter. BlackRock Inc. now owns 869,637 shares of the bank’s stock valued at $5,392,000 after acquiring an additional 60,737 shares during the period. Institutional investors and hedge funds own 42.32% of the company’s stock.
About First Bank
First Bank provides various banking products and services to individuals, businesses, and governmental entities. 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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