Forbright, Inc. (NASDAQ:FRBT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Forbright, Inc. (NASDAQ:FRBT) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $22.00.

A number of brokerages have recently weighed in on FRBT. JPMorgan Chase & Co. assumed coverage on Forbright in a report on Monday, July 6th. They issued a “neutral” rating and a $21.00 target price on the stock. Piper Sandler began coverage on shares of Forbright in a research note on Monday, July 6th. They issued a “neutral” rating and a $21.50 price objective on the stock. TD Cowen assumed coverage on shares of Forbright in a research report on Monday, July 6th. They issued a “buy” rating for the company. Wall Street Zen upgraded shares of Forbright from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, The Goldman Sachs Group started coverage on Forbright in a report on Monday, July 6th. They set a “buy” rating and a $23.50 price objective for the company.

Forbright Price Performance

FRBT opened at $19.63 on Friday. Forbright has a 12-month low of $17.48 and a 12-month high of $22.00.

Forbright (NASDAQ:FRBT) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04).