SG Americas Securities LLC Makes New Investment in First Bank (NASDAQ:FRBA)

SG Americas Securities LLC bought a new position in First Bank (NASDAQ:FRBA) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 7,437 shares of the bank’s stock, valued at approximately $113,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new stake in First Bank in the second quarter worth $162,000. Dimensional Fund Advisors LP grew its stake 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 worth $10,633,000 after purchasing an additional 38,256 shares in the last quarter. Foundry Partners LLC grew its stake in shares of First Bank by 14.8% in the second quarter. Foundry Partners LLC now owns 97,650 shares of the bank’s stock worth $1,244,000 after purchasing an additional 12,575 shares in the last quarter. Bryn Mawr Capital Management LLC grew its stake in shares of First Bank by 1,377.1% in the second quarter. Bryn Mawr Capital Management LLC now owns 21,935 shares of the bank’s stock worth $279,000 after purchasing an additional 20,450 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of First Bank in the second quarter worth $71,000. 64.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com cut First Bank from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Piper Sandler increased their price target on First Bank from $14.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th.

First Bank Trading Down 1.7 %

NASDAQ:FRBA opened at $13.99 on Friday. First Bank has a 1 year low of $10.51 and a 1 year high of $15.87. The stock has a market cap of $273.78 million, a price-to-earnings ratio of 11.47 and a beta of 0.93. The business has a fifty day moving average of $15.02 and a 200-day moving average of $13.61. 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 (NASDAQ:FRBA) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.06). First Bank had a net margin of 14.48% and a return on equity of 12.38%. The firm had revenue of $58.64 million for the quarter, compared to the consensus estimate of $32.96 million. During the same period in the prior year, the business earned $0.42 EPS. Equities analysts predict that First Bank will post 1.7 earnings per share for the current year.

First Bank Dividend Announcement

The company 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. The ex-dividend date is Friday, November 8th. This represents a $0.24 annualized dividend and a yield of 1.72%. First Bank’s dividend payout ratio is currently 19.67%.

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.