First Bank (FRBA) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of First Bank (NASDAQ:FRBA) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. They currently have $9.50 target price on the stock.
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. “
Shares of First Bank (NASDAQ:FRBA) opened at 8.57 on Tuesday. First Bank has a 52 week low of $6.14 and a 52 week high of $8.99. The company has a market cap of $97.63 million, a price-to-earnings ratio of 19.43 and a beta of 0.32. The stock’s 50 day moving average is $8.38 and its 200-day moving average is $7.46.
A number of large investors have recently added to or reduced their stakes in FRBA. Emerald Mutual Fund Advisers Trust increased its stake in First Bank by 1,253.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 188,963 shares of the company’s stock worth $1,311,000 after buying an additional 175,000 shares during the last quarter. Punch & Associates Investment Management Inc. increased its stake in shares of First Bank by 13.6% in the second quarter. Punch & Associates Investment Management Inc. now owns 269,249 shares of the company’s stock valued at $1,869,000 after buying an additional 32,334 shares in the last quarter. Banc Funds Co. LLC increased its stake in shares of First Bank by 103.8% in the second quarter. Banc Funds Co. LLC now owns 873,734 shares of the company’s stock valued at $6,064,000 after buying an additional 445,000 shares in the last quarter. Finally, FJ Capital Management LLC increased its stake in shares of First Bank by 283.8% in the second quarter. FJ Capital Management LLC now owns 1,040,000 shares of the company’s stock valued at $7,218,000 after buying an additional 769,000 shares in the last quarter. 39.44% of the stock is currently owned by institutional investors.
First Bank Company Profile
First Bank (the Bank) is a commercial bank. The Bank provides a range of lending, deposit and other financial products and services. The Bank operates through Community Banking segment, which encompasses its primary business, which includes providing a range of commercial and retail and related banking services.
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