Forbright, Inc. (NASDAQ:FRBT – Get Free Report) saw a large decrease in short interest in July. As of July 31st, there was short interest totaling 39,463 shares, a decrease of 67.7% from the July 15th total of 122,070 shares. Based on an average daily volume of 138,208 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the company’s shares are short sold.
Analysts Set New Price Targets
A number of brokerages recently commented on FRBT. JPMorgan Chase & Co. lifted their target price on shares of Forbright from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Wells Fargo & Company raised their price objective on Forbright from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday. Zacks Research upgraded Forbright to a “hold” rating in a report on Tuesday, July 7th. Piper Sandler began coverage on Forbright in a research note on Monday, July 6th. They issued a “neutral” rating and a $21.50 target price for the company. Finally, TD Cowen started coverage on Forbright in a report on Monday, July 6th. They set a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.60.
View Our Latest Stock Report on Forbright
Forbright Stock Down 0.6%
Forbright (NASDAQ:FRBT – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). The firm had revenue of $84.87 million for the quarter, compared to analysts’ expectations of $85.24 million. Sell-side analysts expect that Forbright will post 1.09 EPS for the current fiscal year.
Forbright Company Profile
Forbright Inc operates as the bank holding company for Forbright Bank which provides various financial services for consumers and businesses principally in the United States. It offers checking and savings accounts, certificates of deposit, and other account and branch banking services and corporate, fund, healthcare, lender, and real estate financing as well as credit cards. Forbright Inc is based in Chevy Chase, Maryland.
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