Wellington Management Group LLP Cuts Stake in First Bank (NASDAQ:FRBA)

Wellington Management Group LLP decreased its position in First Bank (NASDAQ:FRBA - Free Report) by 15.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 704,948 shares of the bank's stock after selling 130,800 shares during the quarter. Wellington Management Group LLP owned approximately 3.60% of First Bank worth $9,919,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FRBA. Picton Mahoney Asset Management bought a new position in First Bank in the fourth quarter valued at about $31,000. SG Americas Securities LLC lifted its holdings in First Bank by 26.7% in the fourth quarter. SG Americas Securities LLC now owns 9,419 shares of the bank's stock valued at $133,000 after acquiring an additional 1,982 shares during the period. Squarepoint Ops LLC bought a new position in First Bank in the fourth quarter valued at about $170,000. Wells Fargo & Company MN lifted its holdings in First Bank by 27.6% in the fourth quarter. Wells Fargo & Company MN now owns 12,452 shares of the bank's stock valued at $175,000 after acquiring an additional 2,697 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in First Bank by 9.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,653 shares of the bank's stock valued at $178,000 after acquiring an additional 1,110 shares during the period. Institutional investors own 64.86% of the company's stock.

First Bank Stock Performance

Shares of NASDAQ FRBA traded up $0.33 during trading on Friday, hitting $14.84. The company had a trading volume of 29,638 shares, compared to its average volume of 49,307. The stock has a 50 day simple moving average of $14.27 and a 200 day simple moving average of $14.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.11 and a current ratio of 1.11. First Bank has a 12 month low of $11.56 and a 12 month high of $15.87. The firm has a market capitalization of $290.42 million, a P/E ratio of 8.89 and a beta of 0.73.

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

First Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Friday, May 9th. First Bank's dividend payout ratio (DPR) is currently 15.58%.

Wall Street Analysts Forecast Growth

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

About First Bank

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.