Brokers Set Expectations for First Bank’s Q2 2024 Earnings (NASDAQ:FRBA)

First Bank (NASDAQ:FRBA) – Equities researchers at DA Davidson issued their Q2 2024 earnings estimates for shares of First Bank in a research report issued to clients and investors on Friday, April 26th. DA Davidson analyst M. Navas anticipates that the bank will earn $0.40 per share for the quarter. The consensus estimate for First Bank’s current full-year earnings is $1.70 per share. DA Davidson also issued estimates for First Bank’s FY2025 earnings at $1.75 EPS.

Separately, Piper Sandler cut their price target on First Bank from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th.

First Bank Stock Up 1.6 %

Shares of FRBA opened at $12.14 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.09. The company has a 50-day simple moving average of $12.95 and a 200-day simple moving average of $13.07. First Bank has a 52 week low of $8.59 and a 52 week high of $15.17. The firm has a market capitalization of $237.58 million, a P/E ratio of 10.74 and a beta of 0.87.

First Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, May 9th. First Bank’s dividend payout ratio is 21.24%.

Hedge Funds Weigh In On First Bank

Hedge funds and other institutional investors have recently made changes to their positions in the business. PL Capital Advisors LLC acquired a new stake in First Bank in the 3rd quarter valued at $5,984,000. BlackBarn Capital Partners LP acquired a new stake in shares of First Bank during the 4th quarter worth about $1,764,000. Bryn Mawr Capital Management LLC bought a new position in First Bank during the 3rd quarter valued at about $892,000. Minerva Advisors LLC bought a new stake in First Bank during the third quarter worth about $443,000. Finally, Denali Advisors LLC acquired a new stake in First Bank during the 1st quarter valued at $293,000. 64.86% of the stock is owned by institutional investors.

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.