First Bank (NASDAQ:FRBA – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.
Separately, Piper Sandler reiterated an “overweight” rating and issued a $17.00 target price (down previously from $18.00) on shares of First Bank in a report on Wednesday, October 30th.
View Our Latest Report on FRBA
First Bank Stock Performance
First Bank (NASDAQ:FRBA – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.06). The company had revenue of $58.64 million for the quarter, compared to analysts’ expectations of $32.96 million. First Bank had a return on equity of 11.80% and a net margin of 18.19%. During the same period last year, the business earned $0.42 EPS. Equities analysts forecast that First Bank will post 1.65 earnings per share for the current year.
Institutional Trading of First Bank
A number of institutional investors and hedge funds have recently bought and sold shares of FRBA. Allspring Global Investments Holdings LLC purchased a new stake in First Bank during the 2nd quarter worth approximately $71,000. SG Americas Securities LLC purchased a new stake in First Bank during the 3rd quarter worth about $113,000. BNP Paribas Financial Markets raised its position in First Bank by 88.0% in the 1st quarter. BNP Paribas Financial Markets now owns 10,013 shares of the bank’s stock valued at $138,000 after purchasing an additional 4,688 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of First Bank in the 2nd quarter valued at about $162,000. Finally, Fourthstone LLC acquired a new position in shares of First Bank during the third quarter worth about $199,000. 64.86% of the stock is currently owned by hedge funds and other institutional investors.
First Bank Company Profile
First Bank provides various banking products and services to small to mid-sized businesses and individuals. The company accepts various deposits, including non-interest-bearing demand deposits, interest bearing demand accounts, money market accounts, savings accounts, and certificates of deposit, as well as commercial checking accounts.
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