Forbright (NASDAQ:FRBT) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Forbright (NASDAQ:FRBT) from a neutral rating to an overweight rating in a report published on Thursday, Marketbeat.com reports. They currently have $22.00 price target on the stock, down from their prior price target of $23.00.

A number of other brokerages have also recently weighed in on FRBT. Zacks Research cut shares of Forbright from a “hold” rating to a “strong sell” rating in a report on Friday, September 11th. Wall Street Zen raised Forbright from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Barclays assumed coverage on Forbright in a research note on Monday, July 6th. They issued an “overweight” rating and a $23.00 price target on the stock. Wells Fargo & Company reduced their price objective on Forbright from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Weiss Ratings initiated coverage on Forbright in a research note on Tuesday, September 8th. They set a “sell (e)” rating for the company. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Forbright has an average rating of “Hold” and an average target price of $22.20.

Forbright Stock Down 2.3%

FRBT opened at $17.79 on Thursday. The business has a fifty day moving average price of $18.72. Forbright has a 12-month low of $16.81 and a 12-month high of $22.00.

Forbright (NASDAQ:FRBT) last announced its earnings results on Thursday, July 30th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The firm had revenue of $84.87 million for the quarter, compared to analysts’ expectations of $85.24 million. On average, equities analysts predict that Forbright will post 1.09 earnings per share for the current year.

Hedge Funds Weigh In On Forbright

A hedge fund recently bought a new position in Forbright stock. Readystate Asset Management LP purchased a new stake in shares of Forbright, Inc. (NASDAQ:FRBT) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 35,000 shares of the company’s stock, valued at approximately $640,000. Readystate Asset Management LP owned about 0.07% of Forbright as of its most recent SEC filing.

Forbright Company Profile

Forbright Inc operates as the bank holding company for Forbright Bank which provides various financial services for consumers and businesses principally in the United States. It offers checking and savings accounts, certificates of deposit, and other account and branch banking services and corporate, fund, healthcare, lender, and real estate financing as well as credit cards. Forbright Inc is based in Chevy Chase, Maryland.