BNP Paribas Financial Markets Sells 21,637 Shares of First Bank (NASDAQ:FRBA)

BNP Paribas Financial Markets cut its position in shares of First Bank (NASDAQ:FRBA) by 59.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 14,826 shares of the bank’s stock after selling 21,637 shares during the period. BNP Paribas Financial Markets’ holdings in First Bank were worth $225,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of First Bank in the 3rd quarter worth $1,159,000. Inspire Investing LLC bought a new stake in First Bank in the third quarter worth $827,000. Dimensional Fund Advisors LP boosted 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. Bryn Mawr Capital Management LLC increased its position in First Bank by 1,377.1% during the second 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 during the last quarter. Finally, Foundry Partners LLC raised its stake in shares of First Bank by 20.2% in the third quarter. Foundry Partners LLC now owns 117,385 shares of the bank’s stock valued at $1,784,000 after acquiring an additional 19,735 shares during the period. 64.86% of the stock is currently owned by institutional investors.

First Bank Stock Up 0.5 %

NASDAQ:FRBA opened at $14.69 on Tuesday. The company has a market cap of $287.47 million, a price-to-earnings ratio of 9.24 and a beta of 0.94. First Bank has a twelve month low of $11.20 and a twelve month high of $15.87. The stock has a fifty day simple moving average of $14.76 and a 200-day simple moving average of $14.23. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.55.

First Bank (NASDAQ:FRBA) last issued 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). The firm had revenue of $58.64 million during the quarter, compared to analysts’ expectations of $32.96 million. First Bank had a return on equity of 11.80% and a net margin of 18.19%. During the same quarter in the prior year, the company posted $0.42 earnings per share. Analysts anticipate that First Bank will post 1.65 EPS for the current year.

First Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.63%. The ex-dividend date was Friday, November 8th. First Bank’s payout ratio is 15.09%.

Analyst Ratings Changes

FRBA has been the topic of several analyst reports. StockNews.com upgraded shares of First Bank from a “hold” rating to a “buy” rating in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $17.00 target price (down previously from $18.00) on shares of First Bank in a research note on Wednesday, October 30th.

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.