First Bank (FRBA) Lifted to Buy at Zacks Investment Research
First Bank (NASDAQ:FRBA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm presently has a $15.00 target price on the bank’s stock. Zacks Investment Research‘s price objective points to a potential upside of 16.28% from the stock’s current price.
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. “
Separately, Sandler O’Neill set a $14.00 target price on shares of First Bank and gave the company a “hold” rating in a research note on Wednesday, October 11th.
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Several hedge funds have recently made changes to their positions in FRBA. Stieven Capital Advisors L.P. purchased a new stake in shares of First Bank during the 2nd quarter valued at approximately $5,810,000. Banc Funds Co. LLC lifted its stake in shares of First Bank by 56.9% during the 2nd quarter. Banc Funds Co. LLC now owns 1,364,734 shares of the bank’s stock valued at $15,899,000 after buying an additional 495,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of First Bank by 2,995.8% during the 2nd quarter. Vanguard Group Inc. now owns 417,537 shares of the bank’s stock valued at $4,865,000 after buying an additional 404,050 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its stake in shares of First Bank by 211.7% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 588,963 shares of the bank’s stock valued at $6,861,000 after buying an additional 400,000 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. lifted its stake in shares of First Bank by 32.1% during the 2nd quarter. Punch & Associates Investment Management Inc. now owns 343,000 shares of the bank’s stock valued at $3,996,000 after buying an additional 83,300 shares in the last quarter. Institutional investors own 37.30% of the company’s stock.
First Bank Company Profile
First Bank is a commercial bank. The Company provides a range of lending, deposit and other financial products and services. It operates through Community Banking segment, which is engaged in providing a range of commercial and retail and related banking services. It offers a range of lending products to meet the needs of its customers located within its market areas, including commercial and industrial loans, commercial real estate loans (including owner-occupied, investor, and multi-family loans), residential real estate loans, and consumer and other loans.
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