Banc Funds Co. LLC Lowers Holdings in First Bank (NASDAQ:FRBA)

Banc Funds Co. LLC lessened its holdings in First Bank (NASDAQ:FRBAFree Report) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,690,908 shares of the bank’s stock after selling 28,541 shares during the quarter. First Bank accounts for approximately 2.5% of Banc Funds Co. LLC’s investment portfolio, making the stock its 4th biggest position. Banc Funds Co. LLC owned about 0.09% of First Bank worth $24,856,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. New York State Common Retirement Fund grew its holdings in 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 worth $103,000 after acquiring an additional 8,448 shares during the period. SG Americas Securities LLC bought a new stake in First Bank in the fourth quarter worth approximately $165,000. Private Advisor Group LLC lifted its stake in First Bank by 12.7% in the fourth quarter. Private Advisor Group LLC now owns 23,511 shares of the bank’s stock valued at $346,000 after buying an additional 2,655 shares during the period. Minerva Advisors LLC bought a new position in shares of First Bank during the 3rd quarter worth approximately $443,000. Finally, Bank of New York Mellon Corp grew its position 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 worth $795,000 after buying an additional 15,861 shares during the period. 64.86% of the stock is currently owned by institutional investors and hedge funds.

First Bank Stock Down 0.3 %

FRBA stock traded down $0.04 during midday trading on Friday, reaching $11.75. 4,551 shares of the company’s stock traded hands, compared to its average volume of 46,795. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average price is $12.35 and its 200-day moving average price is $13.16. First Bank has a 52 week low of $10.23 and a 52 week high of $15.17. The company has a market cap of $229.95 million, a price-to-earnings ratio of 10.43 and a beta of 0.94.

First Bank (NASDAQ:FRBAGet Free Report) last posted its earnings results on Monday, April 22nd. The bank reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 11.88%. As a group, sell-side analysts forecast that First Bank will post 1.68 earnings per share for the current fiscal year.

First Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, May 9th. This represents a $0.24 annualized dividend and a dividend yield of 2.04%. First Bank’s payout ratio is 21.24%.

Analyst Ratings Changes

Separately, Piper Sandler decreased their target price on First Bank from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th.

Read Our Latest Research Report on First Bank

About First Bank

(Free Report)

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.

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Institutional Ownership by Quarter for First Bank (NASDAQ:FRBA)

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