Brokerages Expect First Bank (FRBA) to Announce $0.22 EPS
First Bank (NASDAQ:FRBA) has been given an average broker rating score of 1.67 (Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and two have given a strong buy rating to the company.
Analysts have set a one year consensus target price of $15.50 for the company and are anticipating that the company will post $0.22 EPS for the current quarter, according to Zacks. Zacks has also assigned First Bank an industry rank of 124 out of 265 based on the ratings given to its competitors.
FRBA has been the topic of a number of recent analyst reports. Zacks Investment Research lowered First Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. BidaskClub lowered First Bank from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. Finally, ValuEngine raised First Bank from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st.
First Bank (NASDAQ:FRBA) last posted its quarterly earnings data on Tuesday, January 30th. The bank reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The firm had revenue of $12.86 million during the quarter, compared to the consensus estimate of $12.60 million. equities research analysts predict that First Bank will post 1.04 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, February 8th. This is a positive change from First Bank’s previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.87%. First Bank’s payout ratio is 23.53%.
Several institutional investors have recently made changes to their positions in FRBA. Northern Trust Corp acquired a new stake in shares of First Bank during the second quarter worth $265,000. Vanguard Group Inc. raised its position in shares of First Bank by 2,995.8% during the second 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 period. Dimensional Fund Advisors LP acquired a new stake in shares of First Bank during the second quarter worth $470,000. State Street Corp acquired a new stake in shares of First Bank during the second quarter worth $426,000. Finally, First Trust Advisors LP acquired a new stake in shares of First Bank during the third quarter worth $134,000. 38.40% of the stock is currently owned by institutional investors.
About First Bank
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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