Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
First BankFRBA +0.05%67 Graham Number is $24.43 as of Mar. 2026, which is 3602% above its 10-year median of 0.66. GuruFocus rates FRBA with a GF Score™ of 67/100 and a GF Value™ of $16.79 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,432 Banks companies, First Bank ranks better than 58.59% on this metric.
Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
As of today (2026-08-16), the stock price of First Bank is $19.02. First Bank's graham number for the quarter that ended in Mar. 2026 was $24.43. Therefore, First Bank's Price to Graham Number ratio for today is 0.77.
The historical rank and industry rank for First Bank's Graham Number or its related term are showing as below:
FRBA'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.4 Med: 0.66 Max: 1.17
Current: 0.76
During the past 11 years, the highest Price to Graham Number ratio of First Bank was 1.17. The lowest was 0.40. And the median was 0.66.
FRBA's Price-to-Graham-Number is ranked better than 58.59% of 1432
companies
in the Banks industry
Industry Median: 0.81
vs FRBA: 0.76
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
First Bank's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
19.02
/
24.66
=
0.77
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
First Bank Graham Number Related Terms
First Bank Graham Number Historical Data
* Premium members only.
The historical data trend for First Bank's Graham Number can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Banks - Regional subindustry, First Bank's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
First Bank Price-to-Graham-Number vs Banks Industry
For the Banks industry and Financial Services sector, First Bank's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where First Bank's Price-to-Graham-Number falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
First Bank (FRBA) has a Graham Number of $24.43 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on First Bank and its competitors. This is 3602% above median its historical median of 0.66. Over the past decade, First Bank's Graham Number has ranged from 0.40 to 1.17. According to the industry distribution chart, First Bank ranks #593 out of 1432 companies in the Banks industry, placing it in the top 41.4%.
Is First Bank's Graham Number too high?
First Bank's current Graham Number of $24.43 is 3602% above median its 10-year median of 0.66. Over the past 10 years, this metric has ranged from a low of 0.40 to a high of 1.17. The Banks industry median Graham Number is 0.81. First Bank's value of $24.43 is 2916% above this industry median. Based on the distribution chart, First Bank ranks #593 out of 1432 companies in the Banks industry, which is above the industry midpoint. Overall, First Bank has a GF Score™ of 67/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Bank's Graham Number compare to GBFH and CBK?
According to the Banks industry distribution chart, First Bank ranks #593 out of 1432 companies for Graham Number. This puts First Bank in the upper half of its industry. The industry median Graham Number is 0.81. First Bank's value of $24.43 is 2916% above this benchmark. Historically, First Bank's own Graham Number has ranged from 0.40 to 1.17 over the past decade. While the company's 10-year median is 0.66 vs. the industry median of 0.81, First Bank has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Banks company?
The median Graham Number among Banks companies is 0.81, based on 1,432 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Bank's current Graham Number of $24.43 is 2916% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on First Bank and its competitors. For the Banks industry, the median Graham Number is 0.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Bank's current Graham Number is $24.43, which is 3602% above median its own 10-year median of 0.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Bank stock overvalued right now?
Based on GuruFocus' analysis, First Bank (FRBA) is currently considered Modestly Overvalued. The stock's GF Value™ is $16.79, compared to a current price of $19.02 — trading 13.3% above its estimated fair value. The current Graham Number is $24.43, which is 3602% above median its 10-year median of 0.66 and 2916% above the Banks industry median of 0.81. First Bank's overall GF Score™ is 67/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For First Bank (FRBA), the current Graham Number is $24.43 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is First Bank (FRBA) Overvalued in 2026?
Based on GuruFocus' analysis, First Bank stock appears to be overvalued.
The current stock price of $19.02 is trading 13.3% above its estimated GF Value™ of $16.79.
GuruFocus considers First Bank to be Modestly Overvalued.
Key valuation signals for FRBA:
Graham Number: $24.43 (3602% above median its 10-year median of 0.66)
GF Value™: $16.79 vs. price of $19.02 (13.3% above fair value)
Industry Position: 2916% above the Banks median (#593 of 1432)
No single metric tells the full story. See the FRBA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Bank is a full-service commercial bank, with target businesses from individuals, businesses, and governmental entities located in service regions throughout New Jersey and eastern Pennsylvania, with a particular focus between New York City and Philadelphia. The group focuses on traditional deposit and loan products with businesses and individuals living and working in markets as the source of business. Its services are Business Banking, Personal Banking, Digital Banking, and Lending.
67GF Score
Get the complete analysis for FRBA
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRBA has been successfully added to your 
