Royce & Associates LP Increases Position in First Bank $FRBA

Royce & Associates LP increased its position in shares of First Bank (NASDAQ:FRBA) by 93.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 564,089 shares of the bank’s stock after purchasing an additional 271,825 shares during the period. Royce & Associates LP owned 2.88% of First Bank worth $9,189,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in First Bank by 117.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,654 shares of the bank’s stock worth $41,000 after buying an additional 1,433 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of First Bank by 118.3% in the third quarter. New York State Common Retirement Fund now owns 2,952 shares of the bank’s stock worth $48,000 after acquiring an additional 1,600 shares during the period. CWM LLC boosted its stake in shares of First Bank by 91.8% in the third quarter. CWM LLC now owns 3,421 shares of the bank’s stock worth $56,000 after acquiring an additional 1,637 shares during the period. BNP Paribas Financial Markets grew its position in shares of First Bank by 21.7% during the second quarter. BNP Paribas Financial Markets now owns 4,620 shares of the bank’s stock worth $71,000 after purchasing an additional 825 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in First Bank during the 2nd quarter valued at approximately $154,000. Institutional investors own 64.86% of the company’s stock.

First Bank Trading Up 0.1%

NASDAQ FRBA opened at $16.03 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.14 and a current ratio of 1.14. First Bank has a 1-year low of $12.74 and a 1-year high of $18.11. The business has a 50 day simple moving average of $16.75 and a two-hundred day simple moving average of $16.36.

First Bank (NASDAQ:FRBA) last issued its quarterly earnings data on Monday, January 26th. The bank reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. The business had revenue of $38.46 million for the quarter, compared to analysts’ expectations of $37.42 million. First Bank had a return on equity of 10.32% and a net margin of 17.76%. On average, sell-side analysts anticipate that First Bank will post 1.78 earnings per share for the current fiscal year.

First Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were given a dividend of $0.09 per share. The ex-dividend date was Friday, February 6th. This represents a $0.36 annualized dividend and a yield of 2.2%. First Bank’s dividend payout ratio (DPR) is 20.69%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Zacks Research cut First Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Bank in a research report on Monday, December 29th. Finally, DA Davidson began coverage on shares of First Bank in a research report on Wednesday, February 25th. They set a “neutral” rating and a $18.00 target price for the company. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Bank currently has a consensus rating of “Moderate Buy” and an average price target of $17.75.

First Bank 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. It also offers various loan products comprising commercial and industrial loans, which include line of credit, inventory, equipment, and short-term working capital financing; commercial real estate loans, such as owner-occupied, investor, construction and development, and multi-family loans; residential real estate loans comprising residential mortgages, first and second lien home equity loans, and revolving lines of credit; and consumer and other loans consists of auto, personal, traditional installment, and other loans.