Bank of New York Mellon Corp grew its position in shares of First Bank (NASDAQ:FRBA) by 294.8% during the second quarter, Holdings Channel reports. The fund owned 51,992 shares of the bank’s stock after purchasing an additional 38,823 shares during the quarter. Bank of New York Mellon Corp’s holdings in First Bank were worth $723,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its stake in shares of First Bank by 57.6% during the 2nd quarter. Victory Capital Management Inc. now owns 54,700 shares of the bank’s stock worth $760,000 after purchasing an additional 20,000 shares during the period. Millennium Management LLC raised its stake in shares of First Bank by 133.2% during the 1st quarter. Millennium Management LLC now owns 211,822 shares of the bank’s stock worth $3,050,000 after purchasing an additional 120,986 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of First Bank during the 2nd quarter worth $165,000. Rhumbline Advisers bought a new stake in shares of First Bank during the 2nd quarter worth $198,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of First Bank by 48.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 121,810 shares of the bank’s stock worth $1,754,000 after purchasing an additional 39,575 shares during the period. 50.13% of the stock is currently owned by hedge funds and other institutional investors.
FRBA has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded First Bank from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Wednesday, October 10th. BidaskClub upgraded First Bank from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. Finally, ValuEngine cut First Bank from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd.
NASDAQ FRBA opened at $11.87 on Friday. The firm has a market cap of $214.83 million, a PE ratio of 16.49 and a beta of 0.52. First Bank has a one year low of $11.15 and a one year high of $15.00.
First Bank (NASDAQ:FRBA) last released its earnings results on Tuesday, July 24th. The bank reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.04). The firm had revenue of $14.39 million during the quarter, compared to the consensus estimate of $13.67 million. On average, research analysts predict that First Bank will post 1 earnings per share for the current fiscal year.
First Bank Profile
First Bank provides various banking products and services to individuals, businesses, and governmental entities. 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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