First Bank (NASDAQ:FRBA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Friday. The brokerage presently has a $17.00 price objective on the bank’s stock. Zacks Investment Research‘s price target suggests a potential upside of 17.24% from the company’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. “
A number of other analysts also recently issued reports on FRBA. ValuEngine raised shares of First Bank from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Sandler O’Neill raised shares of First Bank from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Wednesday, November 1st.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Navellier & Associates Inc boosted its holdings in First Bank by 15.0% in 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 period. Stieven Capital Advisors L.P. boosted its holdings in First Bank by 1.8% in 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 period. First Trust Advisors LP bought a new stake in First Bank in the 3rd quarter valued at about $134,000. Dimensional Fund Advisors LP boosted its holdings in First Bank by 30.6% in 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 period. Finally, GSA Capital Partners LLP bought a new stake in First Bank in the 2nd quarter valued at about $144,000. 36.78% of the stock is owned by hedge funds and other institutional investors.
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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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