First Bank (NASDAQ:FRBA – Get Free Report) issued its quarterly earnings results on Thursday. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05, Zacks reports. The company had revenue of $38.76 million during the quarter, compared to analyst estimates of $37.70 million. First Bank had a net margin of 17.45% and a return on equity of 9.57%.
First Bank Price Performance
FRBA traded up $0.77 during trading on Thursday, reaching $18.55. The company’s stock had a trading volume of 118,609 shares, compared to its average volume of 83,919. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $17.91 and a two-hundred day simple moving average of $17.16. First Bank has a 1 year low of $14.40 and a 1 year high of $19.33. The company has a market cap of $465.53 million, a price-to-earnings ratio of 10.98 and a beta of 0.57.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on FRBA shares. Zacks Research upgraded shares of First Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. DA Davidson upped their price target on shares of First Bank from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Piper Sandler raised their price target on shares of First Bank from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Hovde Group reaffirmed an “outperform” rating and issued a $20.00 price target (up from $18.00) on shares of First Bank in a research note on Monday, July 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First Bank in a report on Friday, September 18th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, First Bank has a consensus rating of “Moderate Buy” and a consensus price target of $19.67.
Read Our Latest Analysis on First Bank
About First Bank
First Bank (NASDAQ: FRBA) is a full-service community bank headquartered in Hamilton, New Jersey. The bank provides banking services to individuals, families, professionals, small businesses and commercial customers through branches and digital banking channels.
Its products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, consumer loans, commercial real estate loans, construction financing and other business lending solutions.
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