Millennium Management LLC Sells 17,294 Shares of First Bank (NASDAQ:FRBA)

Millennium Management LLC lowered its holdings in First Bank (NASDAQ:FRBA - Free Report) by 34.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,052 shares of the bank's stock after selling 17,294 shares during the period. Millennium Management LLC owned about 0.17% of First Bank worth $465,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FRBA. Rhumbline Advisers boosted its holdings in shares of First Bank by 2.4% in the fourth quarter. Rhumbline Advisers now owns 30,535 shares of the bank's stock worth $430,000 after buying an additional 730 shares during the period. SG Americas Securities LLC boosted its holdings in shares of First Bank by 26.7% in the fourth quarter. SG Americas Securities LLC now owns 9,419 shares of the bank's stock worth $133,000 after buying an additional 1,982 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of First Bank by 19.0% in the fourth quarter. MetLife Investment Management LLC now owns 12,924 shares of the bank's stock worth $182,000 after buying an additional 2,060 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of First Bank in the fourth quarter worth about $31,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of First Bank by 27.6% in the fourth quarter. Wells Fargo & Company MN now owns 12,452 shares of the bank's stock worth $175,000 after buying an additional 2,697 shares during the period. Institutional investors and hedge funds own 64.86% of the company's stock.

First Bank Stock Down 0.7%

Shares of FRBA stock traded down $0.10 during trading on Thursday, hitting $14.97. 32,315 shares of the company were exchanged, compared to its average volume of 49,651. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $292.96 million, a price-to-earnings ratio of 8.96 and a beta of 0.74. The business's 50-day simple moving average is $14.36 and its 200 day simple moving average is $14.51. 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 posted its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $33.95 million for the quarter, compared to analyst estimates of $33.52 million. First Bank had a return on equity of 11.06% and a net margin of 18.41%. During the same quarter in the prior year, the business posted $0.49 earnings per share. As a group, analysts forecast that First Bank will post 1.78 EPS for the current fiscal year.

First Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, May 9th. First Bank's dividend payout ratio is currently 15.58%.

Wall Street Analysts Forecast Growth

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

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.