Forbright, Inc. (NASDAQ:FRBT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Forbright, Inc. (NASDAQ:FRBT) have been given an average rating of “Hold” by the eight ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $22.60.

Several research firms have issued reports on FRBT. Barclays assumed coverage on Forbright in a report on Monday, July 6th. They set an “overweight” rating and a $23.00 price objective on the stock. Zacks Research downgraded shares of Forbright from a “hold” rating to a “strong sell” rating in a research report on Friday, September 11th. Wall Street Zen raised shares of Forbright from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings started coverage on shares of Forbright in a report on Tuesday, September 8th. They set a “sell (e)” rating on the stock. Finally, Wells Fargo & Company upped their price target on shares of Forbright from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, August 10th.

Forbright Trading Down 6.3%

Shares of Forbright stock opened at $17.65 on Friday. Forbright has a 12-month low of $17.48 and a 12-month high of $22.00. The stock’s fifty day moving average is $19.05.

Forbright (NASDAQ:FRBT) last released its quarterly 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 company had revenue of $84.87 million during the quarter, compared to analyst estimates of $85.24 million. Equities research analysts predict that Forbright will post 1.09 EPS for the current fiscal year.

Institutional Trading of Forbright

An institutional investor recently bought a new stake in Forbright stock. Readystate Asset Management LP bought a new stake in Forbright, Inc. (NASDAQ:FRBT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,000 shares of the company’s stock, valued at approximately $640,000. Readystate Asset Management LP owned approximately 0.07% of Forbright as of its most recent SEC filing.

About Forbright

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.