First Bank (NASDAQ:FRBA – Get Free Report)’s share price reached a new 52-week high during trading on Monday. The company traded as high as $19.99 and last traded at $19.9790, with a volume of 11,864 shares. The stock had previously closed at $19.42.
Analyst Ratings Changes
Several equities analysts have weighed in on FRBA shares. Piper Sandler lifted their price objective on First Bank from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Hovde Group restated an “outperform” rating and set a $20.00 target price (up from $18.00) on shares of First Bank in a research report on Monday, July 27th. DA Davidson upped their price objective on shares of First Bank from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of First Bank from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 23rd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.67.
Get Our Latest Analysis on FRBA
First Bank Stock Performance
The stock has a market cap of $504.18 million, a PE ratio of 11.73 and a beta of 0.53. The company has a fifty day moving average price of $18.00 and a 200 day moving average price of $17.02. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.
First Bank (NASDAQ:FRBA – Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The bank reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. First Bank had a return on equity of 9.58% and a net margin of 17.73%. The firm had revenue of $38.76 million during the quarter, compared to the consensus estimate of $37.70 million. Analysts expect that First Bank will post 1.62 earnings per share for the current year.
First Bank Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be given a $0.12 dividend. The ex-dividend date is Friday, November 6th. This is a boost from First Bank’s previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a yield of 2.4%. First Bank’s payout ratio is 21.05%.
Hedge Funds Weigh In On First Bank
Several institutional investors have recently bought and sold shares of FRBA. Sterling Capital Management LLC grew its stake in First Bank by 3,353.5% in the third quarter. Sterling Capital Management LLC now owns 15,437 shares of the bank’s stock worth $266,000 after purchasing an additional 14,990 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of First Bank during the 2nd quarter worth about $203,000. Empowered Funds LLC acquired a new position in shares of First Bank during the second quarter valued at approximately $1,257,000. Bank of America Corp DE acquired a new stake in shares of First Bank during the 2nd quarter worth approximately $283,000. Finally, BlackRock Inc. purchased a new position in First Bank during the 2nd quarter valued at about $12,836,000. Institutional investors own 64.86% of the company’s stock.
First Bank Company Profile
First Bank (NASDAQ: FRBA) is a community-focused commercial bank headquartered in Hamilton, New Jersey. Founded in 2007, the bank provides banking services to businesses, individuals and organizations in New Jersey and eastern Pennsylvania.
Its products and services include commercial and industrial loans, commercial real estate financing, residential mortgage loans, consumer lending, checking and savings accounts, certificates of deposit, cash-management services and online banking. First Bank emphasizes relationship-based banking and serves small and mid-sized businesses, professionals, nonprofit organizations and individual customers.
First Bank operates a network of branches in central and southern New Jersey and the greater Philadelphia region.
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