Is First Bank (Hamilton, New Jersey) overvalued or undervalued?

As of 22 April 2025, First Bank (Hamilton, New Jersey) has moved from a very attractive to a fair valuation grade. The company appears to be fairly valued based on its current metrics. The P/E ratio stands at 10, with a Price to Book Value of 0.95 and an EV to EBIT of 7.89.
In comparison to its peers, First Bank's P/E ratio is lower than that of Guaranty Bancshares, Inc. at 16.11, while being more favorable than Macatawa Bank Corp., which has a P/E of 12.42. Additionally, the PEG ratio of 0.63 suggests that the stock is relatively undervalued in terms of its growth potential compared to the industry. Despite a strong return of 26.36% over the past year compared to the S&P 500's 10.26%, the overall assessment indicates that First Bank is fairly valued at this time.