First Bank (FRBA) Stock Rating Lowered by Zacks Investment Research

First Bank (NASDAQ:FRBA) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Friday, July 27th.

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. “

Separately, BidaskClub cut First Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd.

First Bank traded down $0.15, reaching $14.00, during midday trading on Friday, MarketBeat.com reports. The company had a trading volume of 19,477 shares, compared to its average volume of 24,861. The firm has a market cap of $246.74 million, a PE ratio of 16.45 and a beta of 0.51. First Bank has a 12-month low of $11.15 and a 12-month high of $15.00.

First Bank (NASDAQ:FRBA) last released its earnings results on Tuesday, July 24th. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.04). The company had revenue of $14.39 million during the quarter, compared to analysts’ expectations of $13.67 million. equities analysts anticipate that First Bank will post 1 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Banc Funds Co. LLC raised its stake in First Bank by 2.3% in the first quarter. Banc Funds Co. LLC now owns 1,273,861 shares of the bank’s stock valued at $18,344,000 after buying an additional 29,100 shares in the last quarter. BlackRock Inc. increased its position in shares of First Bank by 1,465.0% during the second quarter. BlackRock Inc. now owns 716,692 shares of the bank’s stock worth $9,960,000 after purchasing an additional 670,898 shares in the last quarter. Millennium Management LLC increased its position in shares of First Bank by 133.2% during the first quarter. Millennium Management LLC now owns 211,822 shares of the bank’s stock worth $3,050,000 after purchasing an additional 120,986 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of First Bank by 30.9% during the second quarter. Dimensional Fund Advisors LP now owns 159,450 shares of the bank’s stock worth $2,216,000 after purchasing an additional 37,640 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of First Bank by 348.4% during the fourth 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 in the last quarter. Institutional investors own 42.32% of the company’s stock.

First Bank Company Profile

First Bank provides various banking products and services to individuals, businesses, and governmental entities. 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.

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