First Bank’s (FRBA) “Buy (B-)” Rating Reaffirmed at Weiss Ratings

First Bank (NASDAQ:FRBA)‘s stock had its “buy (b-)” rating restated by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Separately, DA Davidson lifted their price target on First Bank from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, First Bank currently has a consensus rating of “Buy” and a consensus price target of $17.83.

First Bank Trading Down 0.6%

First Bank stock opened at $15.56 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.15 and a quick ratio of 1.15. First Bank has a 1-year low of $12.74 and a 1-year high of $17.40. The business has a fifty day moving average price of $16.16 and a 200-day moving average price of $15.24.

First Bank (NASDAQ:FRBA) last posted its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). First Bank had a return on equity of 9.44% and a net margin of 16.13%.The business had revenue of $37.10 million during the quarter, compared to analyst estimates of $35.09 million. As a group, equities analysts anticipate that First Bank will post 1.78 EPS for the current year.

Hedge Funds Weigh In On First Bank

Several institutional investors and hedge funds have recently modified their holdings of FRBA. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of First Bank by 9.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,653 shares of the bank’s stock valued at $178,000 after buying an additional 1,110 shares during the period. GAMMA Investing LLC increased its stake in shares of First Bank by 6,607.8% in the 1st quarter. GAMMA Investing LLC now owns 3,421 shares of the bank’s stock valued at $51,000 after purchasing an additional 3,370 shares in the last quarter. Royce & Associates LP purchased a new position in shares of First Bank in the 1st quarter valued at about $3,601,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of First Bank by 23.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 178,081 shares of the bank’s stock valued at $2,637,000 after purchasing an additional 33,588 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of First Bank in the 1st quarter valued at about $500,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

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.