First Bank (NASDAQ:FRBA) PT Lowered to $15.00 at Piper Sandler

First Bank (NASDAQ:FRBA) had its price target cut by analysts at Piper Sandler from $16.00 to $15.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective points to a potential upside of 27.66% from the company’s previous close.

First Bank Trading Down 4.6 %

NASDAQ FRBA traded down $0.57 on Wednesday, reaching $11.75. 17,297 shares of the company were exchanged, compared to its average volume of 50,661. The business’s fifty day moving average price is $13.06 and its 200 day moving average price is $13.05. The stock has a market capitalization of $229.95 million, a P/E ratio of 10.40 and a beta of 0.87. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63. First Bank has a fifty-two week low of $8.59 and a fifty-two week high of $15.17.

First Bank (NASDAQ:FRBA) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $0.49 EPS for the quarter, beating the consensus estimate of $0.37 by $0.12. First Bank had a return on equity of 12.23% and a net margin of 13.63%. The business had revenue of $28.00 million for the quarter, compared to analyst estimates of $30.95 million. Analysts forecast that First Bank will post 1.73 earnings per share for the current year.

Institutional Investors Weigh In On First Bank

Several large investors have recently bought and sold shares of FRBA. Commonwealth Equity Services LLC purchased a new position in shares of First Bank in the 3rd quarter valued at about $212,000. Bank of New York Mellon Corp lifted its position in First Bank by 27.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 73,742 shares of the bank’s stock worth $795,000 after acquiring an additional 15,861 shares during the period. Strs Ohio lifted its position in First Bank by 26.1% during the 3rd quarter. Strs Ohio now owns 49,300 shares of the bank’s stock worth $531,000 after acquiring an additional 10,200 shares during the period. PL Capital Advisors LLC acquired a new stake in First Bank during the 3rd quarter worth approximately $5,984,000. Finally, New York State Common Retirement Fund lifted its position in First Bank by 766.6% during the 3rd quarter. New York State Common Retirement Fund now owns 9,550 shares of the bank’s stock worth $103,000 after acquiring an additional 8,448 shares during the period. Hedge funds and other institutional investors own 64.86% of the company’s stock.

First Bank Company Profile

First Bank provides various banking products and services to small to mid-sized businesses and individuals. 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.