DA Davidson Analysts Lower Earnings Estimates for First Bank

First Bank (NASDAQ:FRBA) – Equities researchers at DA Davidson decreased their FY2025 EPS estimates for First Bank in a report released on Thursday, December 19th. DA Davidson analyst M. Navas now anticipates that the bank will post earnings of $1.60 per share for the year, down from their prior estimate of $1.65. The consensus estimate for First Bank’s current full-year earnings is $1.65 per share.

A number of other brokerages also recently issued reports on FRBA. StockNews.com upgraded First Bank from a “hold” rating to a “buy” rating in a report on Friday, December 13th. Piper Sandler reissued an “overweight” rating and set a $17.00 target price (down from $18.00) on shares of First Bank in a research note on Wednesday, October 30th.

First Bank Price Performance

Shares of FRBA opened at $14.01 on Friday. The stock has a market capitalization of $274.16 million, a PE ratio of 8.81 and a beta of 0.94. The company has a 50 day moving average price of $14.74 and a 200-day moving average price of $14.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.08 and a current ratio of 1.08. First Bank has a fifty-two week low of $11.20 and a fifty-two week high of $15.87.

First Bank (NASDAQ:FRBA) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). First Bank had a net margin of 18.19% and a return on equity of 11.80%. The firm had revenue of $58.64 million for the quarter, compared to the consensus estimate of $32.96 million. During the same period last year, the firm earned $0.42 earnings per share.

Institutional Investors Weigh In On First Bank

A number of hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in First Bank by 24.0% during the 3rd quarter. Wellington Management Group LLP now owns 835,748 shares of the bank’s stock valued at $12,703,000 after acquiring an additional 161,761 shares during the period. Dimensional Fund Advisors LP grew its holdings in First Bank by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 834,690 shares of the bank’s stock worth $10,633,000 after acquiring an additional 38,256 shares in the last quarter. Geode Capital Management LLC raised its stake in First Bank by 1.1% in the third quarter. Geode Capital Management LLC now owns 469,214 shares of the bank’s stock valued at $7,133,000 after buying an additional 5,105 shares in the last quarter. State Street Corp raised its position in shares of First Bank by 6.2% during the 3rd quarter. State Street Corp now owns 384,047 shares of the bank’s stock worth $5,838,000 after acquiring an additional 22,452 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in First Bank in the third quarter valued at approximately $3,872,000. Hedge funds and other institutional investors own 64.86% of the company’s stock.

First Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Friday, November 8th. First Bank’s dividend payout ratio is currently 15.09%.

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.