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.
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.
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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