Forbright, Inc. (NASDAQ:FRBT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Forbright, Inc. (NASDAQ:FRBT) have earned a consensus recommendation of “Hold” from the eight analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $22.60.

Several equities research analysts have issued reports on the company. Weiss Ratings began coverage on Forbright in a research note on Tuesday, September 8th. They set a “sell (e)” rating for the company. TD Cowen assumed coverage on Forbright in a report on Monday, July 6th. They set a “buy” rating on the stock. Wells Fargo & Company boosted their target price on Forbright from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Barclays initiated coverage on shares of Forbright in a research report on Monday, July 6th. They set an “overweight” rating and a $23.00 price target on the stock. Finally, The Goldman Sachs Group started coverage on shares of Forbright in a research note on Monday, July 6th. They set a “buy” rating and a $23.50 price target on the stock.

Institutional Trading of Forbright

A hedge fund recently bought a new position in Forbright stock. Wellington Management Group LLP acquired a new stake in Forbright, Inc. (NASDAQ:FRBT) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,596,821 shares of the company’s stock, valued at approximately $47,496,000. Wellington Management Group LLP owned about 5.23% of Forbright as of its most recent filing with the Securities & Exchange Commission.

Forbright Price Performance

FRBT stock opened at $17.67 on Friday. Forbright has a one year low of $17.48 and a one year high of $22.00. The business has a 50 day moving average of $18.92.

Forbright (NASDAQ:FRBT) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The firm had revenue of $84.87 million for the quarter, compared to analysts’ expectations of $85.24 million. As a group, equities research analysts forecast that Forbright will post 1.09 earnings per share for the current fiscal year.

About Forbright

Forbright Inc operates as the bank holding company for Forbright Bank which provides various financial services for consumers and businesses principally in the United States. It offers checking and savings accounts, certificates of deposit, and other account and branch banking services and corporate, fund, healthcare, lender, and real estate financing as well as credit cards. Forbright Inc is based in Chevy Chase, Maryland.