JPMorgan Chase & Co. Boosts Forbright (NASDAQ:FRBT) Price Target to $23.00

Forbright (NASDAQ:FRBT) had its price objective increased by JPMorgan Chase & Co. from $21.00 to $23.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 18.43% from the stock’s previous close.

A number of other equities analysts also recently weighed in on FRBT. Piper Sandler initiated coverage on shares of Forbright in a report on Monday, July 6th. They issued a “neutral” rating and a $21.50 price target on the stock. Zacks Research upgraded shares of Forbright to a “hold” rating in a report on Tuesday, July 7th. Barclays initiated coverage on shares of Forbright in a research report on Monday, July 6th. They issued an “overweight” rating and a $23.00 price objective on the stock. Wells Fargo & Company began coverage on shares of Forbright in a research note on Monday, July 6th. They issued an “overweight” rating and a $21.00 target price on the stock. Finally, TD Cowen began coverage on shares of Forbright in a research report on Monday, July 6th. They set a “buy” rating for the company. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.40.

Forbright Trading Down 1.1%

Forbright stock traded down $0.21 during mid-day trading on Friday, reaching $19.42. 63,579 shares of the company’s stock were exchanged, compared to its average volume of 133,221. Forbright has a one year low of $17.48 and a one year high of $22.00.

Forbright (NASDAQ:FRBT) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The business had revenue of $84.99 million during the quarter, compared to analysts’ expectations of $85.24 million.

Forbright, Inc is a finance company in the Regional Banks industry.