Royce & Associates LP lowered its position in First Bank (NASDAQ:FRBA – Free Report) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 529,914 shares of the bank’s stock after selling 34,175 shares during the period. Royce & Associates LP’s holdings in First Bank were worth $8,722,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of FRBA. AQR Capital Management LLC acquired a new stake in shares of First Bank in the 1st quarter worth approximately $213,000. Goldman Sachs Group Inc. grew its holdings in shares of First Bank by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 78,677 shares of the bank’s stock worth $1,165,000 after acquiring an additional 964 shares during the period. Empowered Funds LLC grew its holdings in shares of First Bank by 7.2% in the 1st quarter. Empowered Funds LLC now owns 95,139 shares of the bank’s stock worth $1,409,000 after acquiring an additional 6,415 shares during the period. Jane Street Group LLC acquired a new stake in shares of First Bank in the 1st quarter worth approximately $347,000. Finally, Rhumbline Advisers grew its holdings in shares of First Bank by 3.7% in the 2nd quarter. Rhumbline Advisers now owns 30,316 shares of the bank’s stock worth $469,000 after acquiring an additional 1,070 shares during the period. Institutional investors and hedge funds own 64.86% of the company’s stock.
First Bank Stock Performance
NASDAQ FRBA opened at $15.75 on Friday. First Bank has a fifty-two week low of $14.26 and a fifty-two week high of $18.11. The stock has a market cap of $395.33 million, a price-to-earnings ratio of 9.43 and a beta of 0.54. The business has a fifty day moving average of $15.88 and a 200-day moving average of $16.23. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.
First Bank Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, May 8th. This represents a $0.36 annualized dividend and a dividend yield of 2.3%. First Bank’s dividend payout ratio (DPR) is 21.56%.
Analysts Set New Price Targets
FRBA has been the topic of a number of research reports. Zacks Research cut First Bank from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. Piper Sandler lowered their price target on First Bank from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Finally, DA Davidson restated a “neutral” rating and issued a $17.00 price target on shares of First Bank in a report on Tuesday, April 28th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, First Bank currently has an average rating of “Hold” and an average target price of $17.50.
Check Out Our Latest Stock Report on FRBA
First Bank Company Profile
First Bank provides various banking products and services to small to mid-sized businesses and individuals. The company accepts various deposits, including non-interest-bearing demand deposits, interest bearing demand accounts, money market accounts, savings accounts, and certificates of deposit, as well as commercial checking accounts. It also offers various loan products comprising commercial and industrial loans, which include line of credit, inventory, equipment, and short-term working capital financing; commercial real estate loans, such as owner-occupied, investor, construction and development, and multi-family loans; residential real estate loans comprising residential mortgages, first and second lien home equity loans, and revolving lines of credit; and consumer and other loans consists of auto, personal, traditional installment, and other loans.
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