Analysts Set $15.00 Price Target for First Bank (FRBA)
Shares of First Bank (NASDAQ:FRBA) have earned a consensus broker rating score of 1.67 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. First Bank’s rating score has improved by 16.5% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a twelve-month consensus price target of $15.00 for the company and are predicting that the company will post $0.18 earnings per share for the current quarter, according to Zacks. Zacks has also assigned First Bank an industry rank of 167 out of 265 based on the ratings given to related companies.
Several analysts have weighed in on the company. Zacks Investment Research raised First Bank from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Thursday, November 2nd. Sandler O’Neill raised First Bank from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Wednesday, November 1st.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 10th were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $0.08 annualized dividend and a dividend yield of 0.57%. First Bank’s payout ratio is currently 12.50%.
Several large investors have recently added to or reduced their stakes in FRBA. Renaissance Technologies LLC raised its holdings in shares of First Bank by 274.8% in the 1st quarter. Renaissance Technologies LLC now owns 53,600 shares of the bank’s stock valued at $641,000 after acquiring an additional 39,300 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of First Bank during the 2nd quarter valued at about $140,000. Stieven Capital Advisors L.P. bought a new position in shares of First Bank during the 2nd quarter valued at about $5,810,000. Kennedy Capital Management Inc. bought a new position in shares of First Bank during the 2nd quarter valued at about $608,000. Finally, FNY Partners Fund LP bought a new position in shares of First Bank during the 2nd quarter valued at about $120,000. 36.78% of the stock is currently 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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