First Bank (FRBA) PT Set at $14.00 by Sandler O’Neill
First Bank (NASDAQ:FRBA) received a $14.00 price target from equities researchers at Sandler O’Neill in a note issued to investors on Wednesday. The brokerage presently has a “hold” rating on the bank’s stock. Sandler O’Neill’s price target points to a potential upside of 10.67% from the stock’s previous close.
Separately, Zacks Investment Research downgraded shares of First Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th.
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Several institutional investors have recently added to or reduced their stakes in the company. FNY Partners Fund LP purchased a new stake in shares of First Bank during the 2nd quarter valued at approximately $120,000. Navellier & Associates Inc lifted its stake in First Bank by 15.0% in the 2nd quarter. Navellier & Associates Inc now owns 11,500 shares of the bank’s stock worth $134,000 after purchasing an additional 1,500 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in First Bank in the 2nd quarter worth approximately $140,000. GSA Capital Partners LLP purchased a new stake in First Bank in the 2nd quarter worth approximately $144,000. Finally, Oxford Asset Management purchased a new stake in First Bank in the 1st quarter worth approximately $191,000. 43.31% of the stock is owned by hedge funds and other institutional investors.
First Bank Company Profile
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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