DA Davidson Weighs in on First Bank’s Q2 2024 Earnings (NASDAQ:FRBA)

First Bank (NASDAQ:FRBA) – Equities researchers at DA Davidson issued their Q2 2024 earnings estimates for First Bank in a research report issued to clients and investors on Friday, April 26th. DA Davidson analyst M. Navas expects that the bank will post earnings per share of $0.40 for the quarter. The consensus estimate for First Bank’s current full-year earnings is $1.70 per share. DA Davidson also issued estimates for First Bank’s FY2025 earnings at $1.75 EPS.

Separately, Piper Sandler cut their target price on First Bank from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th.

First Bank Stock Performance

Shares of FRBA stock opened at $11.68 on Monday. The company has a market cap of $228.58 million, a P/E ratio of 10.34 and a beta of 0.87. The business has a 50 day moving average of $12.87 and a two-hundred day moving average of $13.07. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 0.63. First Bank has a 52 week low of $8.59 and a 52 week high of $15.17.

First Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.24 annualized dividend and a dividend yield of 2.05%. First Bank’s dividend payout ratio (DPR) is 21.24%.

Institutional Trading of First Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC boosted its holdings in First Bank by 14.2% during the first quarter. Private Advisor Group LLC now owns 26,856 shares of the bank’s stock worth $369,000 after buying an additional 3,345 shares in the last quarter. Denali Advisors LLC bought a new stake in shares of First Bank during the 1st quarter worth $293,000. Wellington Management Group LLP grew its holdings in shares of First Bank by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 673,987 shares of the bank’s stock worth $9,908,000 after acquiring an additional 3,800 shares during the last quarter. BlackBarn Capital Partners LP acquired a new stake in shares of First Bank during the fourth quarter worth $1,764,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of First Bank by 22.5% during the fourth quarter. Russell Investments Group Ltd. now owns 115,018 shares of the bank’s stock valued at $1,691,000 after purchasing an additional 21,140 shares during the last quarter. 64.86% of the stock is currently owned by institutional investors.

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.