70,149 Shares of FB Bancorp, Inc. $FBLA Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 70,149 shares of FB Bancorp during the second quarter, worth approximately $1.06 million and representing about 0.43% of the company.
• Other institutional investors also increased exposure, including BlackRock’s new $18.94 million position and stake increases by Renaissance Technologies and Dimensional Fund Advisors.
• Analyst sentiment remains negative: FB Bancorp carries an average “Sell” rating, despite its shares trading near their one-year high at $16.96.

Bank of America Corp DE acquired a new stake in FB Bancorp, Inc. (NASDAQ:FBLA - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 70,149 shares of the company's stock, valued at approximately $1,056,000. Bank of America Corp DE owned about 0.43% of FB Bancorp at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FBLA. BlackRock Inc. acquired a new position in shares of FB Bancorp in the second quarter worth $18,940,000. Renaissance Technologies LLC boosted its stake in shares of FB Bancorp by 31.3% during the 1st quarter. Renaissance Technologies LLC now owns 266,500 shares of the company's stock worth $3,662,000 after purchasing an additional 63,600 shares during the last quarter. Mangrove Partners IM LLC grew its holdings in shares of FB Bancorp by 1.0% during the fourth quarter. Mangrove Partners IM LLC now owns 144,020 shares of the company's stock worth $1,851,000 after buying an additional 1,454 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in FB Bancorp by 74.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 132,308 shares of the company's stock worth $1,818,000 after acquiring an additional 56,333 shares during the period. Finally, Raffles Associates LP acquired a new position in FB Bancorp in the 2nd quarter valued at $1,462,000.

Analysts Set New Price Targets

Several research firms recently weighed in on FBLA. Wall Street Zen upgraded FB Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings lowered shares of FB Bancorp from a "hold (c-)" rating to a "sell (d)" rating in a research report on Wednesday, August 26th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, FB Bancorp currently has an average rating of "Sell".

FB Bancorp Price Performance

FBLA opened at $16.96 on Friday. The company has a market capitalization of $270.51 million, a P/E ratio of -1,694.31 and a beta of -0.10. The company has a 50-day moving average of $15.91 and a 200-day moving average of $14.85. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 0.97. FB Bancorp, Inc. has a 1-year low of $11.66 and a 1-year high of $17.02.

FB Bancorp (NASDAQ:FBLA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.05 EPS for the quarter. FB Bancorp had a positive return on equity of 0.91% and a negative net margin of 0.36%.The business had revenue of $14.14 million during the quarter.

FB Bancorp Profile

FB Bancorp, Inc is the bank holding company for First Bank, a community-focused financial institution headquartered in Hamilton, New Jersey. Through First Bank, the company provides banking products and services to individuals, families, businesses and nonprofit organizations.

First Bank offers deposit products such as checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and commercial real estate loans, construction financing, commercial and industrial loans, and consumer credit.

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