Analysts Anticipate First Bank (FRBA) to Post $0.25 Earnings Per Share

First Bank (NASDAQ:FRBA) has received an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating. First Bank’s rating score has improved by 40.1% from 90 days ago as a result of various analysts’ ratings changes.

Brokerages have set a one year consensus target price of $17.00 for the company and are forecasting that the company will post $0.25 EPS for the current quarter, according to Zacks. Zacks has also given First Bank an industry rank of 166 out of 265 based on the ratings given to related companies.

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A number of equities research analysts have recently issued reports on FRBA shares. Zacks Investment Research upgraded shares of First Bank from a “hold” rating to a “strong-buy” rating and set a $17.00 price target on the stock in a report on Friday, January 12th. BidaskClub lowered shares of First Bank from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. Finally, ValuEngine upgraded shares of First Bank from a “hold” rating to a “buy” rating in a report on Sunday, December 31st.

FRBA stock opened at $14.45 on Friday. First Bank has a 52-week low of $11.15 and a 52-week high of $14.95. The company has a market cap of $251.97, a PE ratio of 20.07 and a beta of 0.53.

First Bank (NASDAQ:FRBA) last released its quarterly earnings results on Tuesday, January 30th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The firm had revenue of $12.86 million for the quarter, compared to analyst estimates of $12.60 million. analysts forecast that First Bank will post 1.06 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in FRBA. Girard Partners LTD. acquired a new position in First Bank in the 4th quarter valued at approximately $139,000. Monashee Investment Management LLC acquired a new position in First Bank in the 4th quarter valued at approximately $163,000. Wells Fargo & Company MN increased its stake in First Bank by 252.9% in the 4th quarter. Wells Fargo & Company MN now owns 11,769 shares of the bank’s stock valued at $163,000 after buying an additional 8,434 shares during the period. Bank of New York Mellon Corp acquired a new position in First Bank in the 4th quarter valued at approximately $175,000. Finally, Goldman Sachs Group Inc. acquired a new position in First Bank in the 4th quarter valued at approximately $177,000. Hedge funds and other institutional investors own 39.98% of the company’s stock.

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First Bank Company Profile

First Bank provides various banking products and services to individuals, businesses, and governmental entities in New Jersey and Pennsylvania. The company accepts various deposits, including non-interest bearing demand deposits, interest bearing demand accounts, money market accounts, savings accounts, and certificates of deposit, as well as commercial checking accounts.

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