Brokerages Set Forbright, Inc. (NASDAQ:FRBT) PT at $22.00

Forbright, Inc. (NASDAQ:FRBT) has earned an average rating of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $22.40.

FRBT has been the topic of a number of recent analyst reports. TD Cowen started coverage on shares of Forbright in a research report on Monday, July 6th. They issued a “buy” rating on the stock. The Goldman Sachs Group began coverage on Forbright in a report on Monday, July 6th. They issued a “buy” rating and a $23.50 price target on the stock. Piper Sandler began coverage on shares of Forbright in a report on Monday, July 6th. They set a “neutral” rating and a $21.50 target price for the company. Barclays initiated coverage on shares of Forbright in a research report on Monday, July 6th. They issued an “overweight” rating and a $23.00 price target on the stock. Finally, Wall Street Zen raised Forbright from a “sell” rating to a “hold” rating in a research note on Monday, July 20th.

Forbright Trading Down 2.2%

Shares of FRBT stock opened at $19.08 on Friday. The company has a fifty day moving average of $18.98. Forbright has a one year low of $17.48 and a one year high of $22.00.

Forbright (NASDAQ:FRBT) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $84.99 million during the quarter, compared to analysts’ expectations of $85.24 million. Research analysts expect that Forbright will post 1.09 earnings per share for the current fiscal year.

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.