First Bank (NASDAQ:FRBA) Shares Purchased by Foundry Partners LLC

Foundry Partners LLC grew its position in shares of First Bank (NASDAQ:FRBA) by 20.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 117,385 shares of the bank’s stock after buying an additional 19,735 shares during the quarter. Foundry Partners LLC’s holdings in First Bank were worth $1,784,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of First Bank during the 3rd quarter valued at about $1,159,000. Inspire Investing LLC acquired a new position in First Bank during the third quarter worth $827,000. Dimensional Fund Advisors LP raised its position in shares of First Bank by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 834,690 shares of the bank’s stock valued at $10,633,000 after purchasing an additional 38,256 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of First Bank in the 1st quarter valued at approximately $283,000. Finally, Bryn Mawr Capital Management LLC increased its stake in shares of First Bank by 1,377.1% in the 2nd quarter. Bryn Mawr Capital Management LLC now owns 21,935 shares of the bank’s stock valued at $279,000 after acquiring an additional 20,450 shares in the last quarter. Institutional investors and hedge funds own 64.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FRBA shares. StockNews.com cut First Bank from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Piper Sandler reissued an “overweight” rating and set a $17.00 price target (down previously from $18.00) on shares of First Bank in a research report on Wednesday, October 30th.

First Bank Price Performance

Shares of NASDAQ:FRBA opened at $14.61 on Friday. The business’s fifty day moving average price is $14.85 and its two-hundred day moving average price is $13.92. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.08 and a current ratio of 1.08. First Bank has a one year low of $11.20 and a one year high of $15.87. The stock has a market cap of $285.90 million, a PE ratio of 9.19 and a beta of 0.94.

First Bank (NASDAQ:FRBA) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). The firm had revenue of $58.64 million for the quarter, compared to the consensus estimate of $32.96 million. First Bank had a net margin of 18.19% and a return on equity of 11.80%. During the same quarter last year, the company earned $0.42 earnings per share. On average, analysts forecast that First Bank will post 1.65 EPS for the current fiscal year.

First Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.64%. The ex-dividend date is Friday, November 8th. First Bank’s dividend payout ratio is presently 15.09%.

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.