Forbright, Inc. (NASDAQ:FRBT) Stock Has Consensus Target Price of $22.40 According to Analysts

Shares of Forbright, Inc. (NASDAQ:FRBT) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $22.40.

FRBT has been the topic of several research analyst reports. Piper Sandler started coverage on shares of Forbright in a report on Monday, July 6th. They set a “neutral” rating and a $21.50 price target on the stock. Wall Street Zen raised shares of Forbright from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Barclays increased their price objective on Forbright from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday, October 5th. Weiss Ratings started coverage on Forbright in a report on Tuesday, September 8th. They set a “sell (e)” rating for the company. Finally, Zacks Research raised Forbright from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 6th.

Forbright Trading Up 0.2%

Forbright stock opened at $17.01 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $18.24. Forbright has a twelve month low of $16.50 and a twelve month high of $22.00.

Forbright (NASDAQ:FRBT) last released its earnings results on Thursday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The business had revenue of $84.87 million for the quarter, compared to the consensus estimate of $85.24 million. As a group, sell-side analysts expect that Forbright will post 1.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP purchased a new stake in shares of Forbright during the 2nd quarter worth about $47,496,000. Readystate Asset Management LP acquired a new stake in shares of Forbright during the 2nd quarter valued at about $640,000. Finally, Smithbridge Asset Management Inc. DE acquired a new stake in shares of Forbright during the 3rd quarter valued at about $382,000.

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.