First Bank (NASDAQ:FRBA) Given Overweight Rating at Piper Sandler

First Bank (NASDAQ:FRBA)‘s stock had its “overweight” rating reaffirmed by Piper Sandler in a research note issued on Wednesday, Benzinga reports. They currently have a $17.00 price objective on the bank’s stock, down from their prior price objective of $18.00. Piper Sandler’s price target suggests a potential upside of 17.16% from the company’s current price.

Separately, StockNews.com lowered shares of First Bank from a “buy” rating to a “hold” rating in a research note on Friday, July 19th.

First Bank Stock Up 2.2 %

NASDAQ FRBA traded up $0.31 on Wednesday, hitting $14.51. The stock had a trading volume of 7,654 shares, compared to its average volume of 48,084. First Bank has a 52-week low of $10.80 and a 52-week high of $15.87. The business’s fifty day moving average price is $15.00 and its 200 day moving average price is $13.64. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $283.95 million, a price-to-earnings ratio of 12.81 and a beta of 0.93.

First Bank (NASDAQ:FRBA) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.06). First Bank had a net margin of 14.48% and a return on equity of 12.38%. The business had revenue of $58.64 million for the quarter, compared to analyst estimates of $32.96 million. During the same period in the prior year, the company earned $0.42 earnings per share. Equities research analysts anticipate that First Bank will post 1.7 earnings per share for the current year.

Hedge Funds Weigh In On First Bank

Large investors have recently bought and sold shares of the business. Inspire Investing LLC acquired a new position in shares of First Bank during the third quarter valued at approximately $827,000. IAM Advisory LLC grew its stake in First Bank by 0.4% during the 3rd quarter. IAM Advisory LLC now owns 187,430 shares of the bank’s stock valued at $2,849,000 after acquiring an additional 748 shares in the last quarter. SG Americas Securities LLC purchased a new stake in First Bank during the 3rd quarter valued at about $113,000. Hsbc Holdings PLC purchased a new position in First Bank in the 2nd quarter worth approximately $162,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of First Bank by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 834,690 shares of the bank’s stock worth $10,633,000 after purchasing an additional 38,256 shares during the last quarter. Institutional investors and hedge funds own 64.86% of the company’s stock.

First Bank Company Profile

First Bank provides various banking products and services to small to mid-sized businesses and individuals. The company accepts various deposits, including non-interest-bearing demand deposits, interest bearing demand accounts, money market accounts, savings accounts, and certificates of deposit, as well as commercial checking accounts.