First Bank (NASDAQ:FRBA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “First Bank is a state-chartered bank with five full-service branches. It provides personal and business banking services in New Jersey, the United States. The Bank offers checking, savings, and money market accounts; and auto and home loans, home equity line of credit, fixed rate home equity loans, lines of credit, term loans, commercial mortgages, letters of credit, merchant services, and construction finance. First Bank is headquartered in Hamilton, New Jersey. “
Other research analysts have also issued reports about the stock. ValuEngine upgraded shares of First Bank from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. BidaskClub lowered shares of First Bank from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. First Bank has an average rating of “Hold” and an average target price of $15.33.
First Bank (NASDAQ:FRBA) last posted its earnings results on Tuesday, January 30th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The company had revenue of $12.86 million for the quarter, compared to analyst estimates of $12.60 million. equities research analysts forecast that First Bank will post 1.04 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Stieven Capital Advisors L.P. grew its position in First Bank by 1.8% in the 3rd quarter. Stieven Capital Advisors L.P. now owns 507,900 shares of the bank’s stock worth $6,755,000 after purchasing an additional 9,200 shares during the last quarter. Vanguard Group Inc. grew its position in First Bank by 2,995.8% in the 2nd quarter. Vanguard Group Inc. now owns 417,537 shares of the bank’s stock worth $4,865,000 after purchasing an additional 404,050 shares during the last quarter. Renaissance Technologies LLC grew its position in First Bank by 348.4% in the 4th quarter. Renaissance Technologies LLC now owns 146,600 shares of the bank’s stock worth $2,030,000 after purchasing an additional 113,903 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in First Bank in the 4th quarter worth $1,839,000. Finally, Kennedy Capital Management Inc. grew its position in First Bank by 101.8% in the 4th quarter. Kennedy Capital Management Inc. now owns 112,683 shares of the bank’s stock worth $1,561,000 after purchasing an additional 56,843 shares during the last quarter. Institutional investors own 39.98% of the company’s stock.
First Bank Company Profile
First Bank is a commercial bank. The Company provides a range of lending, deposit and other financial products and services. It operates through Community Banking segment, which is engaged in providing a range of commercial and retail and related banking services. It offers a range of lending products to meet the needs of its customers located within its market areas, including commercial and industrial loans, commercial real estate loans (including owner-occupied, investor, and multi-family loans), residential real estate loans, and consumer and other loans.
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