First Bank (NASDAQ:FRBA) Shares Sold by IAM Advisory LLC

IAM Advisory LLC lowered its holdings in First Bank (NASDAQ:FRBA - Free Report) by 56.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,677 shares of the bank's stock after selling 105,521 shares during the quarter. IAM Advisory LLC owned 0.42% of First Bank worth $1,224,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of First Bank by 6,607.8% in the first quarter. GAMMA Investing LLC now owns 3,421 shares of the bank's stock worth $51,000 after acquiring an additional 3,370 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in First Bank by 9.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,653 shares of the bank's stock worth $178,000 after buying an additional 1,110 shares in the last quarter. Squarepoint Ops LLC acquired a new position in First Bank during the fourth quarter worth $170,000. Two Sigma Advisers LP raised its position in First Bank by 16.8% during the fourth quarter. Two Sigma Advisers LP now owns 62,600 shares of the bank's stock worth $881,000 after acquiring an additional 9,000 shares during the period. Finally, Man Group plc raised its position in First Bank by 71.0% during the fourth quarter. Man Group plc now owns 20,105 shares of the bank's stock worth $283,000 after acquiring an additional 8,347 shares during the period. Institutional investors and hedge funds own 64.86% of the company's stock.

Wall Street Analyst Weigh In

Separately, Hovde Group upped their price objective on shares of First Bank from $17.00 to $17.50 and gave the stock an "outperform" rating in a research report on Thursday, April 24th.

First Bank Price Performance

NASDAQ:FRBA traded up $0.10 during trading hours on Monday, reaching $14.94. 40,943 shares of the company were exchanged, compared to its average volume of 49,400. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.66. The stock's 50-day moving average is $14.27 and its 200-day moving average is $14.50. The firm has a market cap of $292.38 million, a PE ratio of 8.95 and a beta of 0.74. First Bank has a twelve month low of $11.56 and a twelve month high of $15.87.

First Bank (NASDAQ:FRBA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The bank reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). The business had revenue of $33.95 million during the quarter, compared to analyst estimates of $33.52 million. First Bank had a net margin of 18.41% and a return on equity of 11.06%. During the same quarter last year, the company earned $0.49 earnings per share. On average, sell-side analysts anticipate that First Bank will post 1.78 earnings per share for the current fiscal year.

First Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, May 9th. First Bank's dividend payout ratio (DPR) is 15.58%.

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.