JPMorgan Chase & Co. Raises Stake in First Bank (NASDAQ:FRBA)

JPMorgan Chase & Co. boosted its holdings in shares of First Bank (NASDAQ:FRBA) by 217.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,112 shares of the bank’s stock after buying an additional 24,746 shares during the quarter. JPMorgan Chase & Co.’s holdings in First Bank were worth $549,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in shares of First Bank in the 3rd quarter valued at $113,000. Fourthstone LLC purchased a new stake in shares of First Bank in the 3rd quarter valued at $199,000. GSA Capital Partners LLP purchased a new stake in shares of First Bank in the 3rd quarter valued at $294,000. Barclays PLC boosted its holdings in shares of First Bank by 64.7% in the 3rd quarter. Barclays PLC now owns 52,462 shares of the bank’s stock valued at $797,000 after acquiring an additional 20,602 shares during the last quarter. Finally, Inspire Investing LLC purchased a new stake in shares of First Bank in the 3rd quarter valued at $827,000. 64.86% of the stock is currently owned by institutional investors and hedge funds.

First Bank Stock Performance

Shares of NASDAQ FRBA opened at $15.69 on Wednesday. The company’s fifty day moving average price is $14.37 and its 200 day moving average price is $14.68. First Bank has a 1 year low of $11.20 and a 1 year high of $15.87. The company has a market capitalization of $307.05 million, a PE ratio of 9.40 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.11 and a current ratio of 1.11.

First Bank (NASDAQ:FRBA) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. First Bank had a return on equity of 11.06% and a net margin of 18.41%. On average, research analysts predict that First Bank will post 1.78 earnings per share for the current year.

First Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, February 7th. First Bank’s payout ratio is 14.37%.

Wall Street Analyst Weigh In

Several analysts have recently commented on FRBA shares. StockNews.com downgraded shares of First Bank from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Piper Sandler reissued an “overweight” rating and set a $17.00 price target (down from $18.00) on shares of First Bank in a report on Wednesday, October 30th.

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.