Forbright, Inc. (NASDAQ:FRBT) Receives Average Recommendation of “Moderate Buy” from Analysts

Forbright, Inc. (NASDAQ:FRBT) has earned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $22.60.

Several analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Forbright from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. The Goldman Sachs Group assumed coverage on shares of Forbright in a research report on Monday, July 6th. They issued a “buy” rating and a $23.50 target price on the stock. TD Cowen started coverage on shares of Forbright in a research note on Monday, July 6th. They set a “buy” rating on the stock. Wells Fargo & Company boosted their price target on shares of Forbright from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Finally, Barclays started coverage on shares of Forbright in a research report on Monday, July 6th. They issued an “overweight” rating and a $23.00 price target for the company.

Forbright Price Performance

FRBT stock opened at $18.26 on Tuesday. The stock’s 50 day simple moving average is $19.12. Forbright has a fifty-two week low of $17.48 and a fifty-two week high of $22.00.

Forbright (NASDAQ:FRBT) last announced its quarterly earnings results 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 analysts’ expectations of $85.24 million. As a group, sell-side analysts anticipate that Forbright will post 1.09 earnings per share for the current fiscal year.

Institutional Trading of Forbright

An institutional investor recently bought a new position in Forbright stock. Readystate Asset Management LP bought a new stake in Forbright, Inc. (NASDAQ:FRBT) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 35,000 shares of the company’s stock, valued at approximately $640,000. Readystate Asset Management LP owned 0.07% of Forbright as of its most recent SEC filing.

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.