Forbright (NASDAQ:FRBT) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Forbright (NASDAQ:FRBT – Free Report) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks reports.

A number of other equities analysts also recently weighed in on FRBT. Wall Street Zen raised Forbright from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings began coverage on shares of Forbright in a research report on Tuesday, September 8th. They issued a “sell (e)” rating on the stock. JPMorgan Chase & Co. upgraded shares of Forbright from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $23.00 to $22.00 in a report on Thursday, October 1st. TD Cowen started coverage on shares of Forbright in a research report on Monday, July 6th. They issued a “buy” rating for the company. Finally, Barclays lifted their price target on shares of Forbright from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.40.

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Forbright Price Performance

Shares of Forbright stock opened at $18.11 on Tuesday. The company has a market capitalization of $919.26 million and a price-to-earnings ratio of 201.22. The firm has a 50-day moving average price of $18.61. Forbright has a one year low of $16.81 and a one year high of $22.00. The company has a current ratio of 0.95, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16.

Forbright (NASDAQ:FRBT – Get Free Report) last posted its quarterly earnings data 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 company had revenue of $84.87 million during the quarter, compared to analyst estimates of $85.24 million. On average, equities analysts expect that Forbright will post 1.14 EPS for the current year.

Hedge Funds Weigh In On Forbright

A hedge fund recently bought a new position in Forbright stock. Readystate Asset Management LP purchased a new position in shares of Forbright, Inc. (NASDAQ:FRBT – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Forbright Company Profile

(Get Free Report)

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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