Forbright, Inc. (FRBT) - What Are Brokerages Saying About This Stock?

Key Points

• Analysts have a Moderate Buy consensus on Forbright, with five buys, two holds and one sell among eight ratings. The average 12-month price target is $22.40, above the stock’s $17.27 opening price.
• Recent analyst actions were mixed but generally favorable: JPMorgan upgraded the stock to overweight, Barclays raised its target to $24, while Piper Sandler maintained a neutral rating with a $21.50 target.
• Forbright’s latest quarterly results fell short of expectations, with EPS of $0.09 versus the $0.13 consensus and revenue of $84.87 million versus $85.24 million. Readystate Asset Management also initiated a 35,000-share position valued at approximately $640,000.

Shares of Forbright, Inc. (NASDAQ:FRBT - Get Free Report) have received an average rating of "Moderate Buy" from the eight ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $22.40.

A number of equities analysts recently commented on the stock. Zacks Research raised shares of Forbright from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 6th. Piper Sandler assumed coverage on shares of Forbright in a research note on Monday, July 6th. They issued a "neutral" rating and a $21.50 price objective for the company. TD Cowen assumed coverage on shares of Forbright in a report on Monday, July 6th. They issued a "buy" rating for the company. JPMorgan Chase & Co. raised shares of Forbright from a "neutral" rating to an "overweight" rating and cut their price objective for the company from $23.00 to $22.00 in a report on Thursday, October 1st. Finally, Barclays increased their target price on shares of Forbright from $23.00 to $24.00 and gave the stock an "overweight" rating in a research report on Monday, October 5th.

Forbright Price Performance

FRBT stock opened at $17.27 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.95 and a debt-to-equity ratio of 0.16. The company has a market cap of $876.63 million and a PE ratio of 191.89. The stock's fifty day moving average price is $18.46. Forbright has a fifty-two week low of $16.81 and a fifty-two week high of $22.00.

Forbright (NASDAQ:FRBT - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). The firm had revenue of $84.87 million during the quarter, compared to the consensus estimate of $85.24 million. Research analysts expect that Forbright will post 1.14 EPS for the current year.

Institutional Investors Weigh In On Forbright

An institutional investor recently bought a new position in Forbright stock. Readystate Asset Management LP purchased a new stake in Forbright, Inc. (NASDAQ:FRBT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 35,000 shares of the company's stock, valued at approximately $640,000. Readystate Asset Management LP owned 0.07% of Forbright at the end of the most recent quarter.

Forbright Company Profile

Forbright Inc operates as the bank holding company for Forbright Bank which provides various financial services for consumers and businesses principally in the United States. It offers checking and savings accounts, certificates of deposit, and other account and branch banking services and corporate, fund, healthcare, lender, and real estate financing as well as credit cards. Forbright Inc is based in Chevy Chase, Maryland.

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