StockNews.com Upgrades First Bank (NASDAQ:FRBA) to Strong-Buy

First Bank (NASDAQ:FRBAGet Rating) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.

Separately, Piper Sandler reduced their price objective on shares of First Bank to $15.75 in a report on Wednesday, October 5th.

First Bank Price Performance

NASDAQ:FRBA opened at $14.96 on Friday. The company has a 50-day moving average of $14.64 and a 200-day moving average of $14.55. The company has a market capitalization of $290.82 million, a price-to-earnings ratio of 8.40 and a beta of 0.78. First Bank has a 52 week low of $13.02 and a 52 week high of $16.76. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.06 and a current ratio of 1.06.

Hedge Funds Weigh In On First Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in FRBA. Dimensional Fund Advisors LP increased its position in shares of First Bank by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 659,094 shares of the bank’s stock worth $9,011,000 after purchasing an additional 24,308 shares in the last quarter. Barclays PLC increased its position in shares of First Bank by 9.0% during the 3rd quarter. Barclays PLC now owns 25,234 shares of the bank’s stock worth $345,000 after purchasing an additional 2,079 shares in the last quarter. Foundry Partners LLC increased its position in shares of First Bank by 1.5% during the 3rd quarter. Foundry Partners LLC now owns 89,310 shares of the bank’s stock worth $1,221,000 after purchasing an additional 1,285 shares in the last quarter. IAM Advisory LLC increased its position in shares of First Bank by 0.4% during the 3rd quarter. IAM Advisory LLC now owns 180,635 shares of the bank’s stock worth $2,469,000 after purchasing an additional 694 shares in the last quarter. Finally, Capital Market Strategies LLC increased its position in shares of First Bank by 1.6% during the 3rd quarter. Capital Market Strategies LLC now owns 315,600 shares of the bank’s stock worth $4,314,000 after purchasing an additional 5,000 shares in the last quarter.

First Bank Company Profile

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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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