Firstbank Lowered to Neutral at Zacks (FBMI)
Firstbank (NASDAQ:FBMI) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Monday, American Banking News reports. They currently have a $21.60 price target on the stock. Zacks‘ price target would suggest a potential upside of 22.31% from the company’s current price.
Separately, analysts at FIG Partners downgraded shares of Firstbank from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, August 5th. They now have a $18.00 price target on the stock, up previously from $13.00.
Shares of Firstbank (NASDAQ:FBMI) traded down 3.18% on Monday, hitting $17.66. The stock had a trading volume of 5,342 shares. Firstbank has a 1-year low of $7.72 and a 1-year high of $20.07. The stock’s 50-day moving average is $18.44 and its 200-day moving average is $15.1. The company has a market cap of $142.6 million and a price-to-earnings ratio of 13.31.
Firstbank (NASDAQ:FBMI) last issued its quarterly earnings data on Monday, July 22nd. The company reported $0.38 earnings per share (EPS) for the quarter. On average, analysts predict that Firstbank will post $1.44 earnings per share for the current fiscal year.
Firstbank Corporation is a bank holding company. It owns all of the outstanding stock of Firstbank (NASDAQ:FBMI), Firstbank (Mt.
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