Brokerages Anticipate First Bank (FRBA) to Post $0.22 Earnings Per Share
Shares of First Bank (NASDAQ:FRBA) have been assigned an average broker rating score of 1.67 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company.
Brokerages have set a one year consensus price objective of $15.50 for the company and are anticipating that the company will post $0.22 EPS for the current quarter, according to Zacks. Zacks has also given First Bank an industry rank of 20 out of 265 based on the ratings given to related companies.
A number of research firms have recently weighed in on FRBA. Zacks Investment Research upgraded First Bank from a “hold” rating to a “strong-buy” rating and set a $17.00 target price for the company in a research report on Friday, January 12th. ValuEngine upgraded First Bank from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. BidaskClub downgraded First Bank from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. Finally, Sandler O’Neill upgraded First Bank from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Wednesday, November 1st.
First Bank (NASDAQ:FRBA) last released its earnings results on Tuesday, January 30th. The bank reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The firm had revenue of $12.86 million during the quarter, compared to the consensus estimate of $12.60 million. equities analysts forecast that First Bank will post 1.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, February 8th. This is an increase from First Bank’s previous quarterly dividend of $0.02. First Bank’s dividend payout ratio is currently 23.53%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRBA. Vanguard Group Inc. increased its holdings in First Bank by 2,995.8% in the second quarter. Vanguard Group Inc. now owns 417,537 shares of the bank’s stock valued at $4,865,000 after purchasing an additional 404,050 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in First Bank in the fourth quarter valued at about $1,839,000. Renaissance Technologies LLC increased 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 valued at $2,030,000 after purchasing an additional 113,903 shares during the last quarter. Kennedy Capital Management Inc. increased its holdings in First Bank by 101.8% in the fourth quarter. Kennedy Capital Management Inc. now owns 112,683 shares of the bank’s stock valued at $1,561,000 after purchasing an additional 56,843 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in First Bank in the second quarter valued at about $470,000. Institutional investors and hedge funds own 37.93% of the company’s stock.
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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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