First Bank (NASDAQ:FRBA) Stock Rating Upgraded by StockNews.com

First Bank (NASDAQ:FRBA) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Separately, Piper Sandler reaffirmed an “overweight” rating and issued a $17.00 price target (down from $18.00) on shares of First Bank in a research note on Wednesday, October 30th.

First Bank Trading Down 1.3 %

NASDAQ:FRBA opened at $14.62 on Friday. The stock’s 50-day moving average is $14.76 and its two-hundred day moving average is $14.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $286.11 million, a PE ratio of 9.19 and a beta of 0.94. First Bank has a fifty-two week low of $11.20 and a fifty-two week high of $15.87.

First Bank (NASDAQ:FRBA) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). First Bank had a net margin of 18.19% and a return on equity of 11.80%. The company had revenue of $58.64 million for the quarter, compared to analysts’ expectations of $32.96 million. During the same period in the previous year, the firm posted $0.42 earnings per share. As a group, equities research analysts forecast that First Bank will post 1.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Inspire Investing LLC acquired a new position in shares of First Bank during the 3rd quarter worth $827,000. Dimensional Fund Advisors LP boosted its holdings in First Bank by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 834,690 shares of the bank’s stock worth $10,633,000 after purchasing an additional 38,256 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in First Bank during the second quarter worth $71,000. Foundry Partners LLC raised its holdings in First Bank by 14.8% during the second quarter. Foundry Partners LLC now owns 97,650 shares of the bank’s stock valued at $1,244,000 after buying an additional 12,575 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC lifted its position in shares of First Bank by 1,377.1% in the second quarter. Bryn Mawr Capital Management LLC now owns 21,935 shares of the bank’s stock worth $279,000 after buying an additional 20,450 shares during the last quarter. Institutional investors own 64.86% of the company’s stock.

First Bank Company Profile

First Bank provides various banking products and services to small to mid-sized businesses and individuals. 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.