First Bank (NASDAQ:FRBA) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of First Bank (NASDAQ:FRBAFree Report) from a buy rating to a hold rating in a research note issued to investors on Monday.

Separately, Piper Sandler reiterated an “overweight” rating and issued a $17.00 target price (down from $18.00) on shares of First Bank in a research note on Wednesday, October 30th.

View Our Latest Stock Analysis on FRBA

First Bank Stock Performance

Shares of First Bank stock opened at $15.28 on Monday. First Bank has a 1 year low of $11.20 and a 1 year high of $15.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day moving average price of $14.28 and a 200 day moving average price of $14.64. The company has a market capitalization of $299.01 million, a P/E ratio of 9.61 and a beta of 0.95.

First Bank (NASDAQ:FRBAGet Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. First Bank had a return on equity of 11.65% and a net margin of 18.19%. Sell-side analysts anticipate that First Bank will post 1.65 EPS for the current fiscal year.

First Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, February 7th. First Bank’s dividend payout ratio (DPR) is 14.37%.

Institutional Trading of First Bank

Several institutional investors have recently made changes to their positions in FRBA. Wilmington Savings Fund Society FSB purchased a new position in shares of First Bank in the 3rd quarter worth about $3,872,000. Wellington Management Group LLP increased its position in First Bank by 24.0% during the 3rd quarter. Wellington Management Group LLP now owns 835,748 shares of the bank’s stock worth $12,703,000 after purchasing an additional 161,761 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in First Bank in the third quarter valued at approximately $1,159,000. Inspire Investing LLC acquired a new position in First Bank during the third quarter valued at approximately $827,000. Finally, Dimensional Fund Advisors LP grew its stake in First Bank by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 834,690 shares of the bank’s stock worth $10,633,000 after buying an additional 38,256 shares during the period. 64.86% of the stock is owned by hedge funds and other institutional investors.

First Bank Company Profile

(Get Free Report)

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.

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