Analysts Expect First Bank (FRBA) to Announce $0.19 Earnings Per Share

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

Brokerages have set a one year consensus price target of $15.50 for the company and are anticipating that the company will post $0.19 earnings per share for the current quarter, according to Zacks. Zacks has also given First Bank an industry rank of 22 out of 265 based on the ratings given to its competitors.

A number of analysts have recently weighed in on the stock. BidaskClub cut shares of First Bank from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Investment Research upgraded shares of First Bank from a “hold” rating to a “strong-buy” rating and set a $17.00 price target on the stock in a report on Friday, January 12th. ValuEngine upgraded shares of First Bank from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Sandler O’Neill upgraded shares of First Bank from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Wednesday, November 1st.

First Bank (NASDAQ FRBA) remained flat at $$14.45 during trading hours on Friday. 7,337 shares of the stock traded hands, compared to its average volume of 33,450. First Bank has a 12-month low of $10.60 and a 12-month high of $14.95. The firm has a market capitalization of $164.68, a P/E ratio of 22.94 and a beta of 0.37.

First Bank (NASDAQ:FRBA) last released its quarterly earnings results on Monday, October 30th. The bank reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. equities analysts forecast that First Bank will post 0.67 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in FRBA. Banc Funds Co. LLC boosted its stake in First Bank by 56.9% in the 2nd quarter. Banc Funds Co. LLC now owns 1,364,734 shares of the bank’s stock worth $15,899,000 after purchasing an additional 495,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in First Bank by 2,995.8% in the 2nd quarter. Vanguard Group Inc. now owns 417,537 shares of the bank’s stock worth $4,865,000 after purchasing an additional 404,050 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its stake in First Bank by 32.1% in the 2nd quarter. Punch & Associates Investment Management Inc. now owns 343,000 shares of the bank’s stock worth $3,996,000 after purchasing an additional 83,300 shares in the last quarter. Kennedy Capital Management Inc. acquired a new stake in First Bank in the 2nd quarter worth approximately $608,000. Finally, Dimensional Fund Advisors LP acquired a new stake in First Bank in the 2nd quarter worth approximately $470,000. Institutional investors own 36.78% of the company’s stock.

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About First Bank

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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