Forbright (NASDAQ:FRBT – Get Free Report) had its target price reduced by stock analysts at Wells Fargo & Company from $22.00 to $21.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 22.02% from the stock’s current price.
Other research analysts also recently issued reports about the company. The Goldman Sachs Group started coverage on Forbright in a research report on Monday, July 6th. They set a “buy” rating and a $23.50 price objective for the company. TD Cowen started coverage on Forbright in a research report on Monday, July 6th. They set a “buy” rating for the company. Weiss Ratings started coverage on Forbright in a research report on Tuesday, September 8th. They issued a “sell (e)” rating on the stock. Barclays assumed coverage on Forbright in a research note on Monday, July 6th. They set an “overweight” rating and a $23.00 price objective on the stock. Finally, Piper Sandler initiated coverage on Forbright in a research report on Monday, July 6th. They set a “neutral” rating and a $21.50 price objective for the company. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Forbright presently has a consensus rating of “Hold” and an average price target of $22.40.
View Our Latest Stock Analysis on FRBT
Forbright Trading Up 0.8%
Forbright (NASDAQ:FRBT – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The business had revenue of $84.87 million for the quarter, compared to the consensus estimate of $85.24 million. As a group, research analysts expect that Forbright will post 1.09 earnings per share for the current year.
Institutional Trading of Forbright
A hedge fund recently bought a new stake in Forbright stock. Readystate Asset Management LP bought a new stake in Forbright, Inc. (NASDAQ:FRBT – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 35,000 shares of the company’s stock, valued at approximately $640,000. Readystate Asset Management LP owned about 0.07% of Forbright at the end of the most recent quarter.
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.
Further Reading
- Five stocks we like better than Forbright
- Arhaus Has New Momentum—Could Other Furniture Stocks Be Next?
- Can Boxabl Turn Modular Homes Into AI Data Center Infrastructure?
- Up All Night: How Nasdaq’s 23-Hour Trading Could Wake Up Wall Street
- 4 Stocks That Could Split Next—and Why Investors Are Watching
Receive News & Ratings for Forbright Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forbright and related companies with MarketBeat.com's FREE daily email newsletter.
