Forbright, Inc. (NASDAQ:FRBT) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Forbright, Inc. (NASDAQ:FRBT) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $22.00.

A number of equities analysts have recently commented on FRBT shares. Piper Sandler initiated coverage on shares of Forbright in a research 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. TD Cowen started coverage on shares of Forbright in a research report on Monday, July 6th. They set a “buy” rating for the company. The Goldman Sachs Group assumed coverage on Forbright in a research note on Monday, July 6th. They issued a “buy” rating and a $23.50 price objective on the stock. Finally, Wells Fargo & Company started coverage on Forbright in a research note on Monday, July 6th. They set an “overweight” rating and a $21.00 target price for the company.

Forbright Stock Performance

NASDAQ FRBT opened at $19.63 on Friday. Forbright has a fifty-two week low of $17.48 and a fifty-two week high of $22.00.

Forbright (NASDAQ:FRBT) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04).