Wellington Management Group LLP Has $9.91 Million Stock Holdings in First Bank (NASDAQ:FRBA)

Wellington Management Group LLP grew its stake in First Bank (NASDAQ:FRBA) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 673,987 shares of the bank’s stock after acquiring an additional 3,800 shares during the quarter. Wellington Management Group LLP owned 3.44% of First Bank worth $9,908,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FRBA. SG Americas Securities LLC bought a new stake in shares of First Bank during the fourth quarter worth $165,000. Private Advisor Group LLC lifted its holdings in shares of First Bank by 12.7% in the fourth quarter. Private Advisor Group LLC now owns 23,511 shares of the bank’s stock valued at $346,000 after purchasing an additional 2,655 shares in the last quarter. Minerva Advisors LLC acquired a new position in shares of First Bank during the third quarter worth about $443,000. Russell Investments Group Ltd. grew 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 worth $1,691,000 after buying an additional 21,140 shares in the last quarter. Finally, BlackBarn Capital Partners LP acquired a new stake in First Bank in the 4th quarter valued at approximately $1,764,000. Institutional investors own 64.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their price target 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 Price Performance

NASDAQ:FRBA opened at $12.23 on Friday. The company has a market cap of $239.34 million, a P/E ratio of 10.82 and a beta of 0.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. First Bank has a 52-week low of $10.23 and a 52-week high of $15.17. The stock’s 50-day simple moving average is $12.10 and its 200 day simple moving average is $13.09.

First Bank (NASDAQ:FRBA) last released its quarterly earnings data on Monday, April 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. First Bank had a return on equity of 11.88% and a net margin of 13.63%. The company had revenue of $32.28 million during the quarter, compared to analysts’ expectations of $32.50 million. As a group, sell-side analysts forecast that First Bank will post 1.68 EPS for the current fiscal year.

First Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Thursday, May 9th. First Bank’s dividend payout ratio is presently 21.24%.

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.