Commonwealth Equity Services LLC Has $214,000 Holdings in First Bank (NASDAQ:FRBA)

Commonwealth Equity Services LLC lessened its holdings in shares of First Bank (NASDAQ:FRBA) by 7.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 16,777 shares of the bank’s stock after selling 1,427 shares during the period. Commonwealth Equity Services LLC’s holdings in First Bank were worth $214,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in FRBA. Allspring Global Investments Holdings LLC acquired a new position in shares of First Bank in the second quarter worth $71,000. BNP Paribas Financial Markets grew its stake in First Bank by 88.0% in the first quarter. BNP Paribas Financial Markets now owns 10,013 shares of the bank’s stock valued at $138,000 after purchasing an additional 4,688 shares in the last quarter. Quadrature Capital Ltd acquired a new position in First Bank in the 1st quarter worth about $283,000. Denali Advisors LLC purchased a new stake in shares of First Bank during the 1st quarter worth about $293,000. Finally, Bryn Mawr Capital Management LLC lifted its holdings in shares of First Bank by 1,377.1% during the 2nd quarter. Bryn Mawr Capital Management LLC now owns 21,935 shares of the bank’s stock valued at $279,000 after buying an additional 20,450 shares during the last quarter. Institutional investors and hedge funds own 64.86% of the company’s stock.

First Bank Stock Performance

FRBA opened at $15.05 on Thursday. The stock has a 50-day moving average of $14.94 and a 200-day moving average of $13.34. 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 52-week low of $10.51 and a 52-week high of $15.87. The company has a market cap of $294.53 million, a PE ratio of 13.32 and a beta of 0.94.

First Bank (NASDAQ:FRBA) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.40 by $0.07. First Bank had a return on equity of 12.38% and a net margin of 14.48%. The company had revenue of $56.25 million for the quarter, compared to the consensus estimate of $31.95 million. During the same quarter last year, the company posted $0.36 earnings per share. As a group, equities research analysts forecast that First Bank will post 1.7 earnings per share for the current fiscal year.

First Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.24 annualized dividend and a yield of 1.59%. First Bank’s dividend payout ratio (DPR) is presently 21.24%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FRBA shares. Piper Sandler increased their price objective on First Bank from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. StockNews.com lowered shares of First Bank from a “buy” rating to a “hold” rating in a research note on Friday, July 19th.

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.