Capital Market Strategies LLC Has $5.35 Million Position in First Bank $FRBA

Capital Market Strategies LLC trimmed its holdings in shares of First Bank (NASDAQ:FRBA) by 0.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 346,113 shares of the bank’s stock after selling 1,200 shares during the quarter. First Bank accounts for about 3.7% of Capital Market Strategies LLC’s portfolio, making the stock its 5th largest holding. Capital Market Strategies LLC’s holdings in First Bank were worth $5,354,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in First Bank by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 78,677 shares of the bank’s stock worth $1,165,000 after purchasing an additional 964 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in First Bank by 9.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,653 shares of the bank’s stock worth $178,000 after purchasing an additional 1,110 shares during the period. Russell Investments Group Ltd. boosted its stake in First Bank by 3.0% in the 1st quarter. Russell Investments Group Ltd. now owns 96,905 shares of the bank’s stock worth $1,435,000 after purchasing an additional 2,804 shares during the period. GAMMA Investing LLC boosted its stake in First Bank by 6,607.8% in the 1st quarter. GAMMA Investing LLC now owns 3,421 shares of the bank’s stock worth $51,000 after purchasing an additional 3,370 shares during the period. Finally, Bank of America Corp DE boosted its stake in First Bank by 13.5% in the 4th quarter. Bank of America Corp DE now owns 52,132 shares of the bank’s stock worth $733,000 after purchasing an additional 6,213 shares during the period. 64.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, DA Davidson raised their price objective on shares of First Bank from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $17.83.

First Bank Trading Down 1.8%

Shares of NASDAQ:FRBA opened at $16.61 on Friday. The firm has a fifty day moving average of $15.91 and a two-hundred day moving average of $15.07. First Bank has a 12-month low of $12.74 and a 12-month high of $17.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.15 and a quick ratio of 1.12.

First Bank (NASDAQ:FRBA) last issued its earnings results on Tuesday, July 22nd. The bank reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The company had revenue of $37.10 million for the quarter, compared to analyst estimates of $35.09 million. First Bank had a net margin of 16.13% and a return on equity of 9.44%. Equities analysts predict that First Bank will post 1.78 earnings per share for the current year.

First Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. First Bank’s dividend payout ratio (DPR) is 15.89%.

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.