First Bank (NASDAQ:FRBA) Now Covered by Analysts at DA Davidson

DA Davidson began coverage on shares of First Bank (NASDAQ:FRBA) in a research report report published on Wednesday, MarketBeat reports. The firm issued a neutral rating and a $18.00 target price on the bank’s stock.

Several other analysts have also issued reports on FRBA. Zacks Research lowered shares of First Bank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Weiss Ratings reissued a “buy (b)” rating on shares of First Bank in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, First Bank presently has a consensus rating of “Moderate Buy” and an average target price of $17.75.

First Bank Price Performance

Shares of NASDAQ FRBA opened at $16.51 on Wednesday. First Bank has a 12 month low of $12.74 and a 12 month high of $18.11. The business’s 50 day moving average is $16.86 and its two-hundred day moving average is $16.35. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.78.

First Bank (NASDAQ:FRBA) last posted its quarterly earnings data on Monday, January 26th. The bank reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. First Bank had a return on equity of 10.32% and a net margin of 17.76%.The company had revenue of $38.46 million during the quarter, compared to analysts’ expectations of $37.42 million. On average, analysts predict that First Bank will post 1.78 earnings per share for the current year.

First Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, February 6th. First Bank’s dividend payout ratio (DPR) is presently 20.69%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. raised its holdings in shares of First Bank by 4,782.0% in the 2nd quarter. Osaic Holdings Inc. now owns 199,236 shares of the bank’s stock worth $3,082,000 after buying an additional 195,155 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of First Bank by 14.2% in the 2nd quarter. American Century Companies Inc. now owns 251,561 shares of the bank’s stock valued at $3,892,000 after purchasing an additional 31,370 shares in the last quarter. Bailard Inc. bought a new stake in shares of First Bank in the 2nd quarter worth about $294,000. CSM Advisors LLC acquired a new stake in shares of First Bank during the 2nd quarter worth about $2,139,000. Finally, Los Angeles Capital Management LLC bought a new position in First Bank during the 2nd quarter valued at about $222,000. 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. It also offers various loan products comprising commercial and industrial loans, which include line of credit, inventory, equipment, and short-term working capital financing; commercial real estate loans, such as owner-occupied, investor, construction and development, and multi-family loans; residential real estate loans comprising residential mortgages, first and second lien home equity loans, and revolving lines of credit; and consumer and other loans consists of auto, personal, traditional installment, and other loans.