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FRBA

First BankNasdaqGM:FRBA Stock Report

Market Cap

US$265.1m

7D

2.3%

1Y

117.7%

Updated

25 Sep, 2021

Data

Company Financials +
FRBA fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance5/6
Financial Health6/6
Dividends2/6

FRBA Overview

First Bank provides various banking products and services to individuals, businesses, and governmental entities.

First Bank Competitors

Price History & Performance

Summary of all time highs, changes and price drops for First Bank
Historical stock prices
Current Share PriceUS$13.50
52 Week HighUS$6.09
52 Week LowUS$14.41
Beta0.97
1 Month Change1.50%
3 Month Change-4.19%
1 Year Change117.74%
3 Year Change2.66%
5 Year Change61.10%
Change since IPO28.57%

Recent News & Updates

Aug 06

First Bank: Strong Earnings And Cheap Valuation, The Perfect Investment Combination

Solid expense management is the driving force behind the recent profitability improvement. The steeply discounted price, relative to peers, sets the stage for noteworthy outperformance. Good core loan growth likely results in sustainable market share gains.

Jul 30
First Bank (NASDAQ:FRBA) Will Pay A Dividend Of US$0.03

First Bank (NASDAQ:FRBA) Will Pay A Dividend Of US$0.03

The board of First Bank ( NASDAQ:FRBA ) has announced that it will pay a dividend on the 20th of August, with investors...

Shareholder Returns

FRBAUS BanksUS Market
7D2.3%3.4%0.1%
1Y117.7%80.0%35.3%

Return vs Industry: FRBA exceeded the US Banks industry which returned 80% over the past year.

Return vs Market: FRBA exceeded the US Market which returned 37.5% over the past year.

Price Volatility

Is FRBA's price volatile compared to industry and market?
FRBA volatility
FRBA Beta0.97
Industry Beta1.37
Market Beta1

Stable Share Price: FRBA is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: FRBA's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2007211Patrick Ryanhttps://www.firstbanknj.com

First Bank provides various banking products and services to individuals, businesses, and governmental entities. 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. Its loan products include commercial and industrial loans; commercial real estate loans, such as owner-occupied, investor, construction and development, and multi-family loans; residential real estate loans comprising residential mortgages, first and second lien home equity loans, and revolving lines of credit; and consumer and other loans that include auto, personal, and traditional installment loans.

First Bank Fundamentals Summary

How do First Bank's earnings and revenue compare to its market cap?
FRBA fundamental statistics
Market CapUS$265.13m
Earnings (TTM)US$30.65m
Revenue (TTM)US$82.31m

8.6x

P/E Ratio

1.0x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FRBA income statement (TTM)
RevenueUS$82.31m
Cost of RevenueUS$0
Gross ProfitUS$82.31m
ExpensesUS$51.66m
EarningsUS$30.65m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.56
Gross Margin100.00%
Net Profit Margin37.24%
Debt/Equity Ratio54.1%

How did FRBA perform over the long term?

See historical performance and comparison

Dividends

0.9%

Current Dividend Yield

8%

Payout Ratio

Valuation

Is First Bank undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FRBA ($13.5) is trading below our estimate of fair value ($30.92)

Significantly Below Fair Value: FRBA is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FRBA is good value based on its PE Ratio (8.6x) compared to the US Banks industry average (11x).

PE vs Market: FRBA is good value based on its PE Ratio (8.6x) compared to the US market (17.9x).


Price to Earnings Growth Ratio

PEG Ratio: FRBA's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: FRBA's PB Ratio (1x) is in line with the US Banks industry average.


Future Growth

How is First Bank forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

-2.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FRBA's earnings are forecast to decline over the next 3 years (-2.3% per year).

Earnings vs Market: FRBA's earnings are forecast to decline over the next 3 years (-2.3% per year).

High Growth Earnings: FRBA's earnings are forecast to decline over the next 3 years.

Revenue vs Market: FRBA's revenue (5.4% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: FRBA's revenue (5.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FRBA's Return on Equity is forecast to be low in 3 years time (10.9%).


Past Performance

How has First Bank performed over the past 5 years?

29.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FRBA has high quality earnings.

Growing Profit Margin: FRBA's current net profit margins (37.2%) are higher than last year (22.8%).


Past Earnings Growth Analysis

Earnings Trend: FRBA's earnings have grown significantly by 29.1% per year over the past 5 years.

Accelerating Growth: FRBA's earnings growth over the past year (124%) exceeds its 5-year average (29.1% per year).

Earnings vs Industry: FRBA earnings growth over the past year (124%) exceeded the Banks industry 36%.


Return on Equity

High ROE: FRBA's Return on Equity (12%) is considered low.


Financial Health

How is First Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: FRBA's Assets to Equity ratio (9.6x) is low.

Allowance for Bad Loans: FRBA has a sufficient allowance for bad loans (237%).

Low Risk Liabilities: 93% of FRBA's liabilities are made up of primarily low risk sources of funding.

Loan Level: FRBA has an appropriate level of Loans to Assets ratio (83%).

Low Risk Deposits: FRBA's Loans to Deposits ratio (100%) is appropriate.

Level of Bad Loans: FRBA has an appropriate level of bad loans (0.5%).


Dividend

What is First Bank current dividend yield, its reliability and sustainability?

0.89%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FRBA's dividend (0.89%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.34%).

High Dividend: FRBA's dividend (0.89%) is low compared to the top 25% of dividend payers in the US market (3.59%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, FRBA has been paying a dividend for less than 10 years.

Growing Dividend: FRBA's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (7.7%), FRBA's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FRBA's dividends in 3 years are forecast to be thoroughly covered by earnings (9.2% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.1yrs

Average management tenure


CEO

Patrick Ryan (45 yo)

8.67yrs

Tenure

US$883,602

Compensation

Mr. Patrick L. Ryan has been the Chief Executive Officer and President of First Bank since January 1, 2013 and has been its Director since 2008. Mr. Ryan serves as Member of Community Depository Institutio...


CEO Compensation Analysis

Compensation vs Market: Patrick's total compensation ($USD883.60K) is about average for companies of similar size in the US market ($USD1.09M).

Compensation vs Earnings: Patrick's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: FRBA's management team is considered experienced (2.1 years average tenure).


Board Members

Experienced Board: FRBA's board of directors are considered experienced (6.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

First Bank's employee growth, exchange listings and data sources


Key Information

  • Name: First Bank
  • Ticker: FRBA
  • Exchange: NasdaqGM
  • Founded: 2007
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$265.131m
  • Shares outstanding: 19.64m
  • Website: https://www.firstbanknj.com

Number of Employees


Location

  • First Bank
  • 2465 Kuser Road
  • Suite 101
  • Hamilton
  • New Jersey
  • 8690
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/25 02:21
End of Day Share Price2021/09/24 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.