In a report sent to clients and investors Thursday, the rating was changed from'sell' to 'hold'.
First Bank Price Performance
On Thursday, the stock fell $0.36 to $10.34. Stock of the company traded 11,390 shares compared to 57,038 average. The company's market capitalization is $202.35 millions, with a P/E of 5.78. It also has a beta value of 0.73. First Bank's 12-month low is $8.59, and its 12-month high is $16.76. The 50-day moving average of the stock is $10.05, and its 200 day moving average is $12.63. The last time the company released quarterly results was on April 26th. The bank's earnings per share were $0.38, which was $0.04 below the consensus estimate ($0.42). First Bank's net margin was 28.50% and its return on equity was 12.76%. Revenue for the business was $23,76 million. Analysts predict that First Bank's earnings per share will be 1.35 for the current fiscal period.
First Bank: Institutional Investors Take a Stand
Recently, several hedge funds increased or decreased their stakes in a company. Royal Bank of Canada increased their position in First Bank shares by 6.9% during 3rd Quarter. Royal Bank of Canada owns 10,839 of the bank’s shares valued at $148,000, after buying an additional 702 during the last quarter. Rhumbline Advisors increased its holding in First Bank during the second quarter by 3.7%. Rhumbline Advisers owns 21,588 of the bank’s shares valued at $302,000, after adding 775 more shares in the last quarter. BNP Paribas Arbitrage SNC increased its stake in First Bank shares by 21.8% over the third quarter. BNP Paribas Arbitrage SNC owns 4,609 of the bank’s shares worth $63,000, after purchasing an additional 825 in the last quarter. Morgan Stanley increased its holdings of First Bank shares by 1.8% during the fourth quarter. Morgan Stanley owns 48.530 shares worth $668,000. This is after adding 849 more shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in First Bank shares by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. owns now 41,380 shares worth $569,000 of the bank stock after buying an additional 1,069 in the last quarter. Institutional investors hold 45.26% the company's shares.
First Bank Company Profile
First Bank, a commercial bank chartered by the state of New Jersey, offers a wide range of traditional deposit and loan options to both individuals and businesses within its Central and Southern New Jersey market. The firm's main business is community banking, which encompasses a variety of retail and commercial banking services.
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