First Bank (FRBA) Cut to Sell at BidaskClub

First Bank (NASDAQ:FRBA) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other analysts have also issued reports on the stock. 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 research report on Friday, January 12th. ValuEngine upgraded shares of First Bank from a “hold” rating to a “buy” rating in a research 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 research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. First Bank currently has an average rating of “Buy” and an average price target of $15.33.

First Bank (NASDAQ FRBA) remained flat at $$14.45 during midday trading on Friday. The company’s stock had a trading volume of 7,337 shares, compared to its average volume of 33,450. The company has a market capitalization of $164.68, a price-to-earnings ratio of 22.94 and a beta of 0.37. First Bank has a one year low of $10.60 and a one year high of $14.95.

First Bank (NASDAQ:FRBA) last posted its quarterly earnings results on Monday, October 30th. The bank reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.06. sell-side analysts anticipate that First Bank will post 0.67 earnings per share for the current year.

Several institutional investors have recently modified their holdings of FRBA. Banc Funds Co. LLC boosted its position 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 acquiring an additional 495,000 shares in the last quarter. Vanguard Group Inc. boosted its position 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 acquiring an additional 404,050 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its position 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 acquiring an additional 83,300 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of First Bank during the 2nd quarter valued at about $470,000. Finally, First National Bank & Trust Co. of Newtown acquired a new stake in shares of First Bank during the 4th quarter valued at about $525,000. Institutional investors and hedge funds own 36.78% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “First Bank (FRBA) Cut to Sell at BidaskClub” was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.americanbankingnews.com/2018/01/20/first-bank-frba-cut-to-sell-at-bidaskclub.html.

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.

Receive News & Ratings for First Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bank and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply