First Bank (NASDAQ:FRBA – Free Report) had its price target decreased by Piper Sandler from $16.00 to $15.00 in a report published on Wednesday, Benzinga reports. Piper Sandler currently has an overweight rating on the bank’s stock.
First Bank Price Performance
First Bank stock opened at $12.14 on Wednesday. The stock’s 50 day moving average is $12.95 and its 200 day moving average is $13.05. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.09 and a quick ratio of 1.08. The firm has a market cap of $237.58 million, a P/E ratio of 10.74 and a beta of 0.87. First Bank has a one year low of $8.59 and a one year high of $15.17.
First Bank (NASDAQ:FRBA – Get Free Report) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $0.49 EPS for the quarter, beating the consensus estimate of $0.37 by $0.12. First Bank had a return on equity of 12.23% and a net margin of 13.63%. The firm had revenue of $28.00 million during the quarter, compared to the consensus estimate of $30.95 million. As a group, research analysts expect that First Bank will post 1.7 EPS for the current year.
First Bank Announces Dividend
Hedge Funds Weigh In On First Bank
Institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC purchased a new position in shares of First Bank in the 3rd quarter valued at approximately $212,000. Bank of New York Mellon Corp increased its holdings in shares of First Bank by 27.4% in the third quarter. Bank of New York Mellon Corp now owns 73,742 shares of the bank’s stock worth $795,000 after purchasing an additional 15,861 shares during the last quarter. Strs Ohio increased its holdings in shares of First Bank by 26.1% in the third quarter. Strs Ohio now owns 49,300 shares of the bank’s stock worth $531,000 after purchasing an additional 10,200 shares during the last quarter. PL Capital Advisors LLC bought a new stake in First Bank during the third quarter worth approximately $5,984,000. Finally, New York State Common Retirement Fund grew its stake in shares of First Bank by 766.6% during the third quarter. New York State Common Retirement Fund now owns 9,550 shares of the bank’s stock valued at $103,000 after buying an additional 8,448 shares during the last quarter. 64.86% of the stock is currently owned by institutional investors.
First Bank Company Profile
First Bank provides various banking products and services to small to mid-sized businesses and individuals. 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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