Analysts Set $15.00 Target Price for First Bank (FRBA)

Shares of First Bank (NASDAQ:FRBA) have been assigned an average broker rating score of 1.67 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company. First Bank’s rating score has improved by 16.5% in the last 90 days as a result of various analysts’ upgrades and downgrades.

Analysts have set a one year consensus target price of $15.00 for the company and are predicting that the company will post $0.18 EPS for the current quarter, according to Zacks. Zacks has also assigned First Bank an industry rank of 18 out of 265 based on the ratings given to its competitors.

A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded First Bank from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine upgraded First Bank from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Sandler O’Neill set a $14.00 price target on First Bank and gave the company a “hold” rating in a research note on Wednesday, October 11th.

Shares of First Bank (FRBA) opened at $13.95 on Thursday. The company has a market capitalization of $238.89, a PE ratio of 21.80 and a beta of 0.64. First Bank has a 12 month low of $10.60 and a 12 month high of $14.95.

A number of hedge funds have recently added to or reduced their stakes in the business. Navellier & Associates Inc boosted its stake in First Bank by 15.0% during the 2nd quarter. Navellier & Associates Inc now owns 11,500 shares of the bank’s stock valued at $134,000 after purchasing an additional 1,500 shares during the last quarter. Stieven Capital Advisors L.P. boosted its stake in First Bank by 1.8% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 507,900 shares of the bank’s stock valued at $6,755,000 after purchasing an additional 9,200 shares during the last quarter. First Trust Advisors LP acquired a new position in First Bank during the 3rd quarter valued at about $134,000. FNY Partners Fund LP acquired a new position in First Bank during the 2nd quarter valued at about $120,000. Finally, Dimensional Fund Advisors LP boosted its stake in First Bank by 30.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 52,694 shares of the bank’s stock valued at $701,000 after purchasing an additional 12,354 shares during the last quarter. Institutional investors and hedge funds own 36.78% of the company’s stock.

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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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