First Bank (NASDAQ:FRBA) – Stock analysts at Boenning Scattergood raised their Q3 2020 earnings per share estimates for shares of First Bank in a research note issued to investors on Tuesday, July 28th. Boenning Scattergood analyst E. Zwick now forecasts that the bank will post earnings of $0.21 per share for the quarter, up from their prior forecast of $0.20. Boenning Scattergood has a “Outperform” rating and a $10.00 price target on the stock. Boenning Scattergood also issued estimates for First Bank’s FY2020 earnings at $0.90 EPS.
First Bank (NASDAQ:FRBA) last posted its quarterly earnings results on Tuesday, July 28th. The bank reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.06. The firm had revenue of $18.21 million for the quarter, compared to analyst estimates of $16.55 million. First Bank had a return on equity of 7.33% and a net margin of 16.55%.
FRBA has been the subject of several other reports. DA Davidson began coverage on First Bank in a research note on Tuesday, May 5th. They set a “buy” rating and a $11.00 target price for the company. Zacks Investment Research downgraded First Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.50.
Shares of NASDAQ FRBA opened at $6.53 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.55. First Bank has a 12 month low of $6.00 and a 12 month high of $11.60. The stock has a 50 day moving average of $6.70 and a 200-day moving average of $8.04. The company has a market capitalization of $122.50 million, a P/E ratio of 8.17 and a beta of 0.82.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.12 annualized dividend and a yield of 1.84%. First Bank’s dividend payout ratio (DPR) is presently 16.22%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRBA. Citigroup Inc. boosted its stake in First Bank by 47.4% in the 4th quarter. Citigroup Inc. now owns 3,329 shares of the bank’s stock valued at $37,000 after purchasing an additional 1,071 shares during the period. Renaissance Technologies LLC boosted its stake in First Bank by 12.2% in the 4th quarter. Renaissance Technologies LLC now owns 252,595 shares of the bank’s stock valued at $2,791,000 after purchasing an additional 27,410 shares during the period. UBS Group AG boosted its stake in First Bank by 13.3% in the 4th quarter. UBS Group AG now owns 21,806 shares of the bank’s stock valued at $241,000 after purchasing an additional 2,560 shares during the period. Goldman Sachs Group Inc. boosted its stake in First Bank by 161.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 41,642 shares of the bank’s stock valued at $460,000 after purchasing an additional 25,739 shares during the period. Finally, Geode Capital Management LLC boosted its stake in First Bank by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 191,891 shares of the bank’s stock valued at $2,120,000 after purchasing an additional 7,550 shares during the period. Institutional investors and hedge funds own 47.61% of the company’s stock.
First Bank Company Profile
First Bank provides various banking products and services to individuals, businesses, and governmental entities. 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.
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