Forbright (NASDAQ:FRBT – Free Report) had its price target hoisted by Barclays from $23.00 to $24.00 in a research report released on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.
FRBT has been the topic of a number of other reports. Piper Sandler began coverage on Forbright in a report on Monday, July 6th. They issued a “neutral” rating and a $21.50 target price on the stock. TD Cowen assumed coverage on Forbright in a report on Monday, July 6th. They set a “buy” rating for the company. Weiss Ratings assumed coverage on Forbright in a research report on Tuesday, September 8th. They issued a “sell (e)” rating for the company. Zacks Research cut Forbright from a “hold” rating to a “strong sell” rating in a research report on Friday, September 11th. Finally, JPMorgan Chase & Co. raised Forbright from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $23.00 to $22.00 in a research note on Thursday, October 1st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Forbright has an average rating of “Hold” and an average target price of $22.40.
Read Our Latest Research Report on FRBT
Forbright Stock Down 0.6%
Forbright (NASDAQ:FRBT – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.09 earnings per share 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 analyst estimates of $85.24 million. On average, research analysts expect that Forbright will post 1.09 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
An institutional investor recently bought a new stake in Forbright stock. Readystate Asset Management LP purchased a new position in Forbright, Inc. (NASDAQ:FRBT – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 35,000 shares of the company’s stock, valued at approximately $640,000. Readystate Asset Management LP owned approximately 0.07% of Forbright as of its most recent filing with the Securities and Exchange Commission.
About Forbright
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.
See Also
- Five stocks we like better than Forbright
- NVIDIA’s Record High Raises a Bigger Question About How Far the Rally Can Run
- A Manufacturing Surprise Could Be a Big Win for These 2 Companies
- What a $1 Billion Chip Deal Says About Amazon’s AI Ambitions
- 3 Stocks Benefiting From AI Demand Just Announced Major Buybacks
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.
