First Bank (FRBA) Stock Rating Upgraded by Zacks Investment Research
First Bank (NASDAQ:FRBA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $9.50 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 10.59% from the company’s previous close.
According to Zacks, “First Bank is a state-chartered bank with five full-service branches. It provides personal and business banking services in New Jersey, the United States. The Bank offers checking, savings, and money market accounts; and auto and home loans, home equity line of credit, fixed rate home equity loans, lines of credit, term loans, commercial mortgages, letters of credit, merchant services, and construction finance. First Bank is headquartered in Hamilton, New Jersey. “
First Bank (NASDAQ:FRBA) traded down 0.12% during midday trading on Tuesday, hitting $8.59. The company had a trading volume of 144 shares. The stock’s 50-day moving average price is $8.35 and its 200-day moving average price is $7.45. First Bank has a 52-week low of $6.14 and a 52-week high of $8.99. The stock has a market cap of $97.86 million, a PE ratio of 19.48 and a beta of 0.32.
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A number of institutional investors have recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust boosted its position in First Bank by 1,253.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 188,963 shares of the company’s stock valued at $1,311,000 after buying an additional 175,000 shares during the last quarter. FJ Capital Management LLC boosted its position in First Bank by 283.8% in the second quarter. FJ Capital Management LLC now owns 1,040,000 shares of the company’s stock valued at $7,218,000 after buying an additional 769,000 shares during the last quarter. Banc Funds Co. LLC boosted its position in First Bank by 103.8% in the second quarter. Banc Funds Co. LLC now owns 873,734 shares of the company’s stock valued at $6,064,000 after buying an additional 445,000 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its position in First Bank by 13.6% in the second quarter. Punch & Associates Investment Management Inc. now owns 269,249 shares of the company’s stock valued at $1,869,000 after buying an additional 32,334 shares during the last quarter. Institutional investors own 39.44% of the company’s stock.
About First Bank
First Bank (the Bank) is a commercial bank. The Bank provides a range of lending, deposit and other financial products and services. The Bank operates through Community Banking segment, which encompasses its primary business, which includes providing a range of commercial and retail and related banking services.
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