Firstbank (NASDAQ: FBMI) was upgraded by Zacks Investment Research from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday.
Separately, analysts at Oppenheimer (NYSE: OPY) reiterated a “market perform” rating on shares of Firstbank in a research note to investors on Wednesday, January 25th.
Firstbank Corporation is a bank holding company. It owns all of the outstanding stock of Firstbank (Alma), Firstbank (Mt. Pleasant), Firstbank (West Branch), Firstbank (St. Johns), Keystone Community Bank, Firstbank (West Michigan) and FBMI Risk Management Services, Inc. The Company’s business is concentrated in a single industry segment, commercial banking. Each subsidiary bank is a full-service community bank. Its subsidiary banks offer all customary banking services, including the acceptance of checking, savings, and time deposits and the making of commercial, mortgage (principally single family), home improvement, automobile and other consumer loans. Firstbank (Alma, Firstbank (Mt. Pleasant), Firstbank (West Branch), Firstbank (St. Johns), Keystone Community Bank and Firstbank (West Michigan) are Michigan state chartered bank.
Firstbank traded down 0.16% on Tuesday, hitting $6.24. Firstbank has a 52-week low of $4.55 and a 52-week high of $7.51. The stock has a 50-day moving average of $5.29 and a 200-day moving average of $5.19. The company has a market cap of $49.2 million and a price-to-earnings ratio of 12.50.