Wall Street analysts expect First Bank (NASDAQ:FRBA – Get Rating) to post sales of $22.65 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have released earnings estimates for First Bank, with the highest sales estimate of $22.70 million and the lowest estimate of $22.60 million. First Bank reported sales of $22.35 million in the same quarter last year, indicating a positive year-over-year growth rate of 1.3%. The company is expected to release its next quarterly earnings report on Monday, April 25.
According to Zacks, analysts expect First Bank to report annual revenue of $91.85 million for the current fiscal year, with estimates ranging from $91.80 to $91.90 million. For the next fiscal year, analysts expect the company to report sales of $95.85 million, with estimates ranging from $94.50 to $97.20 million. Zacks sales averages are an average average based on a survey of research companies that track First Bank.
First Bank (NASDAQ:FRBA – Get Rating) last announced its quarterly results on Wednesday, January 26. The bank reported earnings per share of $0.42 for the quarter, missing Thomson Reuters consensus estimate of $0.43 per ($0.01). First Bank had a net margin of 35.83% and a return on equity of 14.13%. The company posted revenue of $22.85 million in the quarter, compared to $22.30 million expected by analysts. During the same quarter last year, the firm posted earnings per share of $0.31.
Separately, Zacks Investment Research upgraded First Bank from a “sell” rating to a “hold” rating in a Friday, Jan. 28, report.
FRBA stock opened at $14.80 on Friday. The company has a debt ratio of 0.45, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $277.65 million, a price-earnings ratio of 8.22 and a beta of 0.85. The company’s 50-day moving average price is $14.44 and its two-hundred-day moving average price is $14.36. First Bank has a fifty-two week low of $10.85 and a fifty-two week high of $15.90.
The company also recently declared a quarterly dividend, which was paid on Friday, February 25. Shareholders of record on Friday, February 11 received a dividend of $0.06. This represents an annualized dividend of $0.24 and a yield of 1.62%. The ex-dividend date was Thursday, February 10. First Bank’s payout ratio is 13.33%.
Several institutional investors have recently changed their stake in the company. BlackRock Inc. increased its stake in First Bank by 0.4% during the fourth quarter. BlackRock Inc. now owns 948,556 shares of the bank valued at $13,763,000 after acquiring 3,986 additional shares last quarter. Vanguard Group Inc. increased its position in First Bank by 4.8% during the second quarter. Vanguard Group Inc. now owns 800,556 shares of the bank worth $10,839,000 after purchasing an additional 36,746 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings of First Bank shares by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 546,219 shares of the bank valued at $7,925,000 after acquiring 9,812 additional shares in the last quarter. Capital Market Strategies LLC acquired a new stake in shares of First Bank in the fourth quarter valued at approximately $4,507,000. Finally, Alliancebernstein LP increased its stake in First Bank shares by 2.6% in the third quarter. Alliancebernstein LP now owns 299,518 shares of the bank valued at $4,220,000 after purchasing an additional 7,467 shares during the period.
About First Bank (Get a rating)
First Bank is a state-chartered commercial bank, which offers a traditional line of deposit and lending products to individuals and businesses in its central and southern New Jersey markets. Its primary focus within Community Banking encompasses the core business of the company, which includes the provision of a wide range of commercial and retail banking and related services.
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