FIRST BANK (Hamilton)

FRBA · NASDAQ

$17.95+$0.20 (+1.13%)TodayMarket closed · Oct 20, 4:03 PM ET

Prev close $17.75

FRBA analyst rating

BuyConsensus of 2 analysts over the last 12 months. 50% rate it a buy.

Strong buy0
Buy1
Hold1
Underperform0
Sell0

12-month price target · 5 analysts

Average $19.38 (+8.0% upside)

Low: $18.18
Now: $17.95
High: $21.00

Upgrades and downgrades

The latest rating actions, newest first

FRBA analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Piper Sandler	Jul 27, 2026	Maintains	Overweight	$19.00 → $20.00	68%
DA Davidson	Jul 27, 2026	Maintains	Neutral	$16.00 → $19.00	53%
Piper Sandler	Jun 26, 2026	Maintains	Overweight	$18.00 → $19.00	68%
Piper Sandler	May 1, 2026	Maintains	Overweight	$20.00 → $18.00	68%
DA Davidson	Apr 29, 2026	Maintains	Neutral	$17.00 → $16.00	53%
DA Davidson	Apr 28, 2026	Maintains	Neutral	$17.00	53%
DA Davidson	Feb 25, 2026	Initiates	Neutral	$18.00	53%

The case for and against

Updated Oct 15, 2026

Bull case

First Bank is viewed positively because the credit issues appear isolated to a small business portfolio of less than $100M, while management expects further charge-offs to moderate and believes most losses are already reserved for. Even after elevated net charge-offs of about 60 bps and a 20 bps rise in nonperforming assets to 0.66%, the bank still has a healthy 1.39% total allowance and management points to strong LTV/DSCR protection. The outlook is further supported by capital flexibility, as the remaining $20M buyback authorization could reduce shares by about 5% while still leaving a strong 12.5% TRBC.

Bear case

First Bank is facing a challenging fundamental setup because 1Q26 results broadly missed expectations, with EPS pressured by an elevated provision tied to losses in small business lending, higher compensation costs, and weaker-than-expected net interest income. Credit quality has deteriorated, with higher net charge-offs in the micro/small business segment and expectations for roughly $3 million of quarterly provisioning through 2027, while the net interest margin fell 5 bps to 3.69% amid deposit pricing pressure. Although loan growth momentum is improving and management still targets $200 million of full-year growth, the company’s work-in-progress deposit franchise, elevated CRE concentration, and potential NIM compression if rates fall in 2H26 support a cautious outlook.

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