First Bank (NASDAQ:FRBA) Stock Rating Lowered by StockNews.com

First Bank (NASDAQ:FRBA - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Monday.

Separately, Piper Sandler restated an "overweight" rating and set a $17.00 target price (down previously from $18.00) on shares of First Bank in a research report on Wednesday, October 30th.

First Bank Stock Performance

Shares of First Bank stock traded up $0.63 on Monday, hitting $15.07. The stock had a trading volume of 73,022 shares, compared to its average volume of 48,751. The stock has a market cap of $294.92 million, a price-to-earnings ratio of 9.48 and a beta of 0.95. The business's 50 day moving average is $14.23 and its two-hundred day moving average is $14.60. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.66. First Bank has a twelve month low of $11.20 and a twelve month high of $15.87.

First Bank (NASDAQ:FRBA - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. First Bank had a return on equity of 11.65% and a net margin of 18.19%. Analysts forecast that First Bank will post 1.65 EPS for the current year.

Hedge Funds Weigh In On First Bank

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in First Bank by 24.0% in the third quarter. Wellington Management Group LLP now owns 835,748 shares of the bank's stock valued at $12,703,000 after acquiring an additional 161,761 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in First Bank by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 834,690 shares of the bank's stock worth $10,633,000 after acquiring an additional 38,256 shares in the last quarter. Geode Capital Management LLC raised its stake in First Bank by 1.1% during the third quarter. Geode Capital Management LLC now owns 469,214 shares of the bank's stock worth $7,133,000 after acquiring an additional 5,105 shares in the last quarter. State Street Corp lifted its holdings in shares of First Bank by 6.2% in the third quarter. State Street Corp now owns 384,047 shares of the bank's stock worth $5,838,000 after acquiring an additional 22,452 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of First Bank in the 3rd quarter valued at approximately $3,872,000. 64.86% of the stock is owned by 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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