First Bank (NASDAQ:FRBA) has received a consensus broker rating score of 1.67 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company.
Brokers have set a 12 month consensus price target of $17.00 for the company and are anticipating that the company will post $0.22 EPS for the current quarter, according to Zacks. Zacks has also given First Bank an industry rank of 126 out of 265 based on the ratings given to related companies.
Several brokerages recently issued reports on FRBA. Zacks Investment Research upgraded First Bank from a “hold” rating to a “strong-buy” rating and set a $17.00 price target on the stock in a research note on Friday, January 12th. BidaskClub downgraded First Bank from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. Finally, ValuEngine raised First Bank from a “hold” rating to a “buy” rating in a report on Sunday, December 31st.
First Bank (NASDAQ:FRBA) last issued its quarterly earnings results on Tuesday, January 30th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The company had revenue of $12.86 million during the quarter, compared to analysts’ expectations of $12.60 million. equities analysts expect that First Bank will post 1.04 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a $0.03 dividend. This is an increase from First Bank’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Thursday, February 8th. First Bank’s payout ratio is presently 23.53%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. acquired a new position in shares of First Bank in the 4th quarter worth approximately $257,000. Millennium Management LLC acquired a new position in shares of First Bank in the 4th quarter worth approximately $1,258,000. Goldman Sachs Group Inc. acquired a new position in shares of First Bank in the 4th quarter worth approximately $177,000. Deutsche Bank AG boosted its holdings in shares of First Bank by 60.5% in the 4th quarter. Deutsche Bank AG now owns 51,605 shares of the bank’s stock worth $714,000 after acquiring an additional 19,454 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of First Bank by 348.4% in the 4th quarter. Renaissance Technologies LLC now owns 146,600 shares of the bank’s stock worth $2,030,000 after acquiring an additional 113,903 shares in the last quarter. 39.98% of the stock is currently owned by institutional investors and hedge funds.
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First Bank Company Profile
First Bank is a commercial bank. The Company provides a range of lending, deposit and other financial products and services. It operates through Community Banking segment, which is engaged in providing a range of commercial and retail and related banking services. It offers a range of lending products to meet the needs of its customers located within its market areas, including commercial and industrial loans, commercial real estate loans (including owner-occupied, investor, and multi-family loans), residential real estate loans, and consumer and other loans.
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