FY2022 EPS Estimates for First Bank Increased by Boenning Scattergood (NASDAQ:FRBA)

First Bank (NASDAQ:FRBAGet Rating) – Investment analysts at Boenning Scattergood boosted their FY2022 earnings estimates for First Bank in a report issued on Tuesday, April 26th. Boenning Scattergood analyst E. Zwick now expects that the bank will post earnings of $1.70 per share for the year, up from their previous forecast of $1.65.

First Bank (NASDAQ:FRBAGet Rating) last issued its quarterly earnings data on Monday, April 25th. The bank reported $0.41 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.41. First Bank had a net margin of 35.83% and a return on equity of 13.95%. During the same quarter in the prior year, the company posted $0.49 EPS.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded First Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 28th. StockNews.com began coverage on First Bank in a report on Thursday, March 31st. They issued a “buy” rating for the company.

Shares of NASDAQ:FRBA opened at $14.19 on Thursday. The stock has a fifty day simple moving average of $14.26 and a two-hundred day simple moving average of $14.56. The stock has a market capitalization of $266.20 million, a price-to-earnings ratio of 7.88 and a beta of 0.83. First Bank has a 12-month low of $11.49 and a 12-month high of $15.90. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. grew its stake in First Bank by 106.9% in the third quarter. Citigroup Inc. now owns 1,779 shares of the bank’s stock worth $25,000 after purchasing an additional 919 shares in the last quarter. Royal Bank of Canada boosted its position in First Bank by 72.6% during the 3rd quarter. Royal Bank of Canada now owns 2,273 shares of the bank’s stock valued at $32,000 after acquiring an additional 956 shares in the last quarter. Victory Capital Management Inc. boosted its position in First Bank by 3.6% during the 3rd quarter. Victory Capital Management Inc. now owns 48,400 shares of the bank’s stock valued at $682,000 after acquiring an additional 1,662 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in First Bank by 92.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,884 shares of the bank’s stock valued at $55,000 after acquiring an additional 1,863 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in First Bank by 3.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 53,632 shares of the bank’s stock valued at $778,000 after acquiring an additional 1,999 shares in the last quarter.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $0.24 annualized dividend and a dividend yield of 1.69%. First Bank’s payout ratio is 13.33%.

First Bank Company Profile (Get Rating)

First Bank provides various banking products and services to individuals, businesses, and governmental entities. 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.

See Also

Earnings History and Estimates for First Bank (NASDAQ:FRBA)

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