Analysts Offer Predictions for First Bank’s Q2 2024 Earnings (NASDAQ:FRBA)

First Bank (NASDAQ:FRBA) – Equities researchers at DA Davidson issued their Q2 2024 EPS estimates for First Bank in a research report issued to clients and investors on Friday, April 26th. DA Davidson analyst M. Navas anticipates that the bank will post earnings per share of $0.40 for the quarter. The consensus estimate for First Bank’s current full-year earnings is $1.70 per share. DA Davidson also issued estimates for First Bank’s FY2025 earnings at $1.75 EPS.

Separately, Piper Sandler reduced their price target on shares of First Bank from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th.

First Bank Stock Performance

First Bank stock opened at $12.14 on Monday. The firm’s 50 day simple moving average is $12.95 and its 200 day simple moving average is $13.07. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63. First Bank has a 1-year low of $8.59 and a 1-year high of $15.17. The firm has a market capitalization of $237.58 million, a PE ratio of 10.74 and a beta of 0.87.

First Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.98%. First Bank’s dividend payout ratio (DPR) is presently 21.24%.

Institutional Investors Weigh In On First Bank

Several hedge funds have recently bought and sold shares of FRBA. New York State Common Retirement Fund raised its position in shares of First Bank by 766.6% during the 3rd 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 in the last quarter. SG Americas Securities LLC purchased a new stake in First Bank during the fourth quarter valued at about $165,000. Commonwealth Equity Services LLC purchased a new stake in First Bank during the third quarter valued at about $212,000. Denali Advisors LLC bought a new stake in First Bank during the first quarter worth about $293,000. Finally, Private Advisor Group LLC boosted its holdings in shares of First Bank by 12.7% in the 4th quarter. Private Advisor Group LLC now owns 23,511 shares of the bank’s stock worth $346,000 after purchasing an additional 2,655 shares in the last quarter. 64.86% of the stock is currently owned by institutional investors.

About First Bank

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.