Shares of First Bank (NASDAQ:FRBA) have received an average broker rating score of 1.67 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company.
Brokers have set a 1 year consensus price target of $15.50 for the company and are anticipating that the company will post $0.22 earnings per share for the current quarter, according to Zacks. Zacks has also given First Bank an industry rank of 17 out of 265 based on the ratings given to its competitors.
FRBA has been the subject of several analyst reports. Zacks Investment Research upgraded First Bank from a “hold” rating to a “strong-buy” rating and set a $17.00 target price for the company in a report on Friday, January 12th. Sandler O’Neill upgraded First Bank from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Wednesday, November 1st. BidaskClub cut First Bank from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. Finally, ValuEngine upgraded First Bank from a “hold” rating to a “buy” rating in a report on Sunday, December 31st.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be issued a dividend of $0.03 per share. The ex-dividend date is Thursday, February 8th. This is a boost from First Bank’s previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.87%. First Bank’s dividend payout ratio is currently 15.69%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP purchased a new position in shares of First Bank during the 3rd quarter worth $134,000. Navellier & Associates Inc grew its holdings in shares of First Bank by 15.0% during the 2nd quarter. Navellier & Associates Inc now owns 11,500 shares of the bank’s stock worth $134,000 after purchasing an additional 1,500 shares during the period. Girard Partners LTD. purchased a new position in shares of First Bank during the 4th quarter worth $139,000. GSA Capital Partners LLP purchased a new position in shares of First Bank during the 2nd quarter worth $144,000. Finally, Wells Fargo & Company MN grew its holdings in shares of First Bank by 252.9% during the 4th quarter. Wells Fargo & Company MN now owns 11,769 shares of the bank’s stock worth $163,000 after purchasing an additional 8,434 shares during the period. Institutional investors and hedge funds own 37.17% 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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