BlackRock Inc. increased its stake in First Bank (NASDAQ:FRBA) by 1,465.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 716,692 shares of the bank’s stock after purchasing an additional 670,898 shares during the period. BlackRock Inc.’s holdings in First Bank were worth $9,960,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its stake in First Bank by 133.2% in 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in First Bank by 48.1% in 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 in the last quarter. Victory Capital Management Inc. boosted its stake in First Bank by 57.6% in 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in First Bank by 294.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 51,992 shares of the bank’s stock worth $723,000 after purchasing an additional 38,823 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. acquired a new stake in First Bank in the 2nd quarter worth approximately $431,000. Institutional investors own 50.34% of the company’s stock.
Shares of NASDAQ FRBA opened at $11.78 on Friday. First Bank has a 12 month low of $11.15 and a 12 month high of $15.00. The company has a market cap of $205.41 million, a price-to-earnings ratio of 12.67 and a beta of 0.63.
First Bank (NASDAQ:FRBA) last announced its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $15.74 million for the quarter, compared to analyst estimates of $14.64 million. Equities research analysts predict that First Bank will post 1.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, November 8th. First Bank’s payout ratio is 16.67%.
FRBA has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of First Bank from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Wednesday, October 10th. BidaskClub upgraded shares of First Bank from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. Finally, ValuEngine cut shares of First Bank from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd.
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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