First Bank (NASDAQ:FRBA) has been given an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a twelve-month consensus target price of $17.00 for the company and are expecting that the company will post $0.24 earnings per share for the current quarter, according to Zacks. Zacks has also assigned First Bank an industry rank of 169 out of 255 based on the ratings given to related companies.

A number of equities analysts have recently commented on FRBA shares. Zacks Investment Research lowered First Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 27th. BidaskClub lowered First Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in First Bank by 13.4% during the fourth quarter. BlackRock Inc. now owns 43,820 shares of the bank’s stock valued at $607,000 after acquiring an additional 5,178 shares during the period. Wells Fargo & Company MN increased its stake in First Bank by 252.9% during the fourth quarter. Wells Fargo & Company MN now owns 11,769 shares of the bank’s stock valued at $163,000 after acquiring an additional 8,434 shares during the period. Tower Research Capital LLC TRC increased its stake in First Bank by 1,278.7% during the second quarter. Tower Research Capital LLC TRC now owns 12,781 shares of the bank’s stock valued at $178,000 after acquiring an additional 11,854 shares during the period. FNY Investment Advisers LLC bought a new position in First Bank during the second quarter valued at about $165,000. Finally, Bank of New York Mellon Corp bought a new position in First Bank during the fourth quarter valued at about $175,000. Hedge funds and other institutional investors own 42.77% of the company’s stock.

First Bank stock opened at $14.45 on Wednesday. The stock has a market capitalization of $244.12 million, a PE ratio of 19.31 and a beta of 0.51. First Bank has a 52 week low of $11.15 and a 52 week high of $15.00.

First Bank (NASDAQ:FRBA) last posted its quarterly earnings data on Tuesday, July 24th. The bank reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.04). The firm had revenue of $14.39 million during the quarter, compared to analyst estimates of $13.67 million. research analysts predict that First Bank will post 1 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 24th. Investors of record on Friday, August 10th will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, August 9th. This represents a $0.12 annualized dividend and a yield of 0.83%. First Bank’s dividend payout ratio is 16.67%.

About First Bank

First Bank provides various banking products and services to individuals, businesses, and governmental entities. 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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