Wellington Management Group LLP Has $9.92 Million Stake in First Bank (NASDAQ:FRBA)

Wellington Management Group LLP cut its stake in First Bank (NASDAQ:FRBA - Free Report) by 15.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 704,948 shares of the bank's stock after selling 130,800 shares during the period. Wellington Management Group LLP owned 3.60% of First Bank worth $9,919,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of FRBA. JPMorgan Chase & Co. raised its stake in shares of First Bank by 217.7% in the third quarter. JPMorgan Chase & Co. now owns 36,112 shares of the bank's stock worth $549,000 after acquiring an additional 24,746 shares during the last quarter. SG Americas Securities LLC raised its stake 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 acquiring an additional 1,982 shares during the last quarter. Empowered Funds LLC raised its stake in shares of First Bank by 5.0% in the fourth quarter. Empowered Funds LLC now owns 88,724 shares of the bank's stock worth $1,248,000 after acquiring an additional 4,215 shares during the last quarter. Rhumbline Advisers raised its stake in shares of First Bank by 2.4% during 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 last quarter. Finally, PL Capital Advisors LLC raised its stake in shares of First Bank by 1,307.0% during the fourth quarter. PL Capital Advisors LLC now owns 6,737,940 shares of the bank's stock worth $94,803,000 after buying an additional 6,259,053 shares during the last quarter. 64.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

First Bank Trading Down 0.9%

NASDAQ:FRBA traded down $0.13 during trading hours on Wednesday, hitting $14.49. The stock had a trading volume of 41,904 shares, compared to its average volume of 49,072. The company has a market cap of $283.57 million, a price-to-earnings ratio of 8.68 and a beta of 0.73. First Bank has a one year low of $11.20 and a one year high of $15.87. 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 business's 50 day moving average is $14.28 and its 200-day moving average is $14.50.

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

First Bank Announces Dividend

The firm also recently announced 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 yield of 1.66%. The ex-dividend date of this dividend was Friday, May 9th. First Bank's payout ratio is 15.58%.

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.