NasdaqGM:FRBA

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Flawless balance sheet and good value.


Similar Companies

Share Price & News

How has First Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-0.5%

NasdaqGM:FRBA

0.3%

US Banks

0.9%

US Market


1 Year Return

-26.4%

NasdaqGM:FRBA

-13.6%

US Banks

0.3%

US Market

FRBA underperformed the Banks industry which returned -14.2% over the past year.

FRBA underperformed the Market in United States of America which returned -0.5% over the past year.


Share holder returns

FRBAIndustryMarket
7 Day-0.5%0.3%0.9%
30 Day-7.0%-5.1%-1.9%
90 Day-5.6%-3.5%1.6%
1 Year-25.6%-26.4%-11.2%-13.6%2.6%0.3%
3 Year33.0%29.9%43.6%33.7%41.0%31.8%
5 Year77.1%73.0%53.7%37.0%55.2%38.0%

Price Volatility Vs. Market

How volatile is First Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is First Bank undervalued based on future cash flows and its price relative to the stock market?

11.92x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

First Bank's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

First Bank's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

First Bank is good value based on earnings compared to the US Banks industry average.

First Bank is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

First Bank is good value based on expected growth next year.


Price Based on Value of Assets

First Bank is good value based on assets compared to the US Banks industry average.


Next Steps

Future Growth

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

15.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

First Bank's revenue is expected to grow by 14.9% yearly, however this is not considered high growth (20% yearly).

First Bank's earnings are expected to grow by 15.8% yearly, however this is not considered high growth (20% yearly).

First Bank's revenue growth is expected to exceed the United States of America market average.

First Bank's earnings growth is expected to exceed the United States of America market average.

First Bank's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

First Bank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has First Bank performed over the past 5 years?

31.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

First Bank has delivered over 20% year on year earnings growth in the past 5 years.

First Bank's 1-year earnings growth exceeds its 5-year average (49.7% vs 31.9%)

First Bank's earnings growth has exceeded the US Banks industry average in the past year (49.7% vs 33.2%).


Return on Equity

First Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

First Bank used its assets less efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if First Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

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

Information is not available.

Information is not available.


Financial Institutions Analysis

First Bank has an acceptable proportion of non-loan assets held.

First Bank has a sufficient allowance for bad loans.

First Bank's liabilities are made up of primarily low risk sources of funding.

First Bank's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).

Loans at First Bank are broadly funded by customer deposits.

First Bank has an acceptable level of bad loans (less than 2%).


Next Steps

Dividend

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

1.22%

Expected Dividend Yield


Dividend Yield and Payments Analysis

First Bank's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).

First Bank's dividend is below the markets top 25% of dividend payers in United States of America (3.84%).

Whilst dividend payments have been stable, First Bank has been paying a dividend for less than 10 years.

Dividend payments have increased, but First Bank only paid a dividend in the past 3 years.


Current Payout to Shareholders

Dividends paid are thoroughly covered by earnings (7.4x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be thoroughly covered by earnings (7.3x coverage).


Next Steps

Management

What is the CEO of First Bank's salary, the management and board of directors tenure and is there insider trading?

3.7yrs

Average management tenure


CEO

Patrick Ryan (43yo)

6.6yrs

Tenure

US$784,939

Compensation

Mr. Patrick L. Ryan has been the Chief Executive Officer and President at First Bank since January 1, 2013. Mr. Ryan serves as Member of Community Depository Institutions Advisory Council at Federal Reserv ...


CEO Compensation Analysis

Patrick's remuneration is lower than average for companies of similar size in United States of America.

Patrick's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

3.7yrs

Average Tenure

62yo

Average Age

The tenure for the First Bank management team is about average.


Board Age and Tenure

5.2yrs

Average Tenure

57.5yo

Average Age

The tenure for the First Bank board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

BuyUS$2,23807 Feb 19
Douglas Borden
EntityIndividual
Role
Member of the Board of Directors
Director
Shares200
Max PriceUS$11.19
BuyUS$51,52007 Feb 19
BP Ins Investments LLC
EntityCompany
Shares4,600
Max PriceUS$11.20
BuyUS$11,18430 Jan 19
Patrick Ryan
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares1,000
Max PriceUS$11.27
BuyUS$13,55014 Sep 18
John Strydesky
EntityIndividual
Role
Member of the Board of Directors
Director
Shares1,000
Max PriceUS$13.55

Ownership Breakdown


Management Team

  • Steve Carman (62yo)

    Executive VP

    • Tenure: 11.6yrs
    • Compensation: US$303.23k
  • Patrick Ryan (43yo)

    President

    • Tenure: 6.6yrs
    • Compensation: US$784.94k
  • Peter Cahill (62yo)

    Executive VP & Chief Lending Officer

    • Tenure: 10.8yrs
    • Compensation: US$353.05k
  • Susan Valentino-Paglione

    First Senior VP & Chief Retail Operations Officer

    • Tenure: 2.0yrs
  • Kimberly Cerasi

    Senior Vice President of Human Resources

    • Tenure: 3.7yrs
  • David Lidster

    CTO & First Senior VP

    • Tenure: 0.0yrs
  • Andrew Hibshman

    Chief Accounting Officer & First Senior VP

    • Tenure: 3.1yrs
  • Gabriel Dragos

    Senior VP & Head of Operations

    • Tenure: 0.0yrs
  • John Shepardson

    First Senior VP & Chief Administrative Officer

    • Tenure: 1.4yrs
  • Michelle Mack

    VP & Compliance and Community Reinvestment Act Officer

    • Tenure: 0.0yrs

Board Members

  • Elbert Basolis (57yo)

    Director

    • Tenure: 10.8yrs
    • Compensation: US$54.88k
  • Les Goodman (76yo)

    Vice Chairman & Lead Independent Director

    • Tenure: 5.1yrs
    • Compensation: US$91.24k
  • Patrick Ryan (74yo)

    Chairman of the Board

    • Tenure: 5.3yrs
    • Compensation: US$160.86k
  • Patrick Ryan (43yo)

    President

    • Tenure: 6.6yrs
    • Compensation: US$784.94k
  • Douglas Borden (58yo)

    Director

    • Tenure: 2.3yrs
    • Compensation: US$56.08k
  • Michael Salz (48yo)

    Director

    • Tenure: 2.3yrs
    • Compensation: US$53.45k
  • Glenn Josephs (64yo)

    Director

    • Tenure: 10.8yrs
    • Compensation: US$60.45k
  • John Strydesky (71yo)

    Director

    • Tenure: 9.6yrs
    • Compensation: US$55.30k
  • Paige Imperatore (57yo)

    Director

    • Tenure: 3.3yrs
    • Compensation: US$52.30k
  • Gary Hofing (49yo)

    Director

    • Tenure: 3.3yrs
    • Compensation: US$53.45k

Company Information

First Bank's company bio, 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$199.587m
  • Shares outstanding: 18.76m
  • Website: https://www.firstbanknj.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FRBANasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDMar 2007

Biography

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, intere ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/20 00:01
End of Day Share Price2019/08/19 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.