First Bank (NASDAQ:FRBA) Shares Acquired by Private Advisor Group LLC

Private Advisor Group LLC raised its holdings in shares of First Bank (NASDAQ:FRBA) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,511 shares of the bank’s stock after buying an additional 2,655 shares during the period. Private Advisor Group LLC owned about 0.12% of First Bank worth $346,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. IAM Advisory LLC boosted its stake in First Bank by 0.5% in the 4th quarter. IAM Advisory LLC now owns 184,986 shares of the bank’s stock worth $2,719,000 after purchasing an additional 896 shares during the period. New York State Common Retirement Fund boosted its stake in shares of First Bank by 766.6% during the 3rd quarter. New York State Common Retirement Fund now owns 9,550 shares of the bank’s stock valued at $103,000 after buying an additional 8,448 shares during the period. SG Americas Securities LLC acquired a new stake in shares of First Bank during the 4th quarter valued at $165,000. Bank of New York Mellon Corp raised its holdings in shares of First Bank by 27.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 73,742 shares of the bank’s stock valued at $795,000 after purchasing an additional 15,861 shares in the last quarter. Finally, Commonwealth Equity Services LLC bought a new position in shares of First Bank during the 3rd quarter valued at $212,000. 64.86% of the stock is currently owned by institutional investors.

First Bank Stock Performance

NASDAQ FRBA opened at $12.59 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.09 and a quick ratio of 1.08. The firm has a market capitalization of $246.39 million, a price-to-earnings ratio of 11.14 and a beta of 0.92. The company’s fifty day moving average is $12.58 and its two-hundred day moving average is $13.17. First Bank has a 52-week low of $10.02 and a 52-week high of $15.17.

First Bank (NASDAQ:FRBA) last posted its quarterly earnings results on Monday, April 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06. The company had revenue of $32.28 million for the quarter, compared to analyst estimates of $32.50 million. First Bank had a net margin of 13.63% and a return on equity of 12.23%. Equities research analysts forecast that First Bank will post 1.68 EPS for the current year.

First Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.24 annualized dividend and a dividend yield of 1.91%. First Bank’s dividend payout ratio (DPR) is currently 21.24%.

Analysts Set New Price Targets

Separately, Piper Sandler dropped their target price on shares of First Bank from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th.

First Bank 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.