Northern Trust Corp Has $1.91 Million Stock Holdings in First Bank (NASDAQ:FRBA)

Northern Trust Corp lessened its position in shares of First Bank (NASDAQ:FRBA) by 8.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 141,390 shares of the bank’s stock after selling 13,354 shares during the quarter. Northern Trust Corp’s holdings in First Bank were worth $1,914,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. WINTON GROUP Ltd lifted its stake in shares of First Bank by 4.5% during the second quarter. WINTON GROUP Ltd now owns 30,490 shares of the bank’s stock valued at $413,000 after acquiring an additional 1,303 shares during the period. Squarepoint Ops LLC increased its holdings in First Bank by 15.1% in the first quarter. Squarepoint Ops LLC now owns 13,066 shares of the bank’s stock valued at $159,000 after purchasing an additional 1,718 shares during the last quarter. Citadel Advisors LLC bought a new stake in First Bank in the first quarter valued at about $153,000. Geode Capital Management LLC increased its holdings in First Bank by 6.9% in the second quarter. Geode Capital Management LLC now owns 259,234 shares of the bank’s stock valued at $3,510,000 after purchasing an additional 16,700 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in First Bank by 6.5% in the first quarter. Dimensional Fund Advisors LP now owns 479,873 shares of the bank’s stock valued at $5,850,000 after purchasing an additional 29,104 shares during the last quarter.

Separately, Zacks Investment Research upgraded First Bank from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Wednesday, October 6th.

NASDAQ FRBA opened at $15.00 on Friday. The stock has a 50-day simple moving average of $14.80 and a 200 day simple moving average of $13.94. The company has a market capitalization of $281.40 million, a PE ratio of 8.77 and a beta of 0.95. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. First Bank has a 12 month low of $8.78 and a 12 month high of $15.90.

First Bank (NASDAQ:FRBA) last announced its quarterly earnings results on Monday, October 25th. The bank reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. First Bank had a return on equity of 13.73% and a net margin of 34.29%. During the same period in the prior year, the company earned $0.30 earnings per share. As a group, sell-side analysts predict that First Bank will post 1.81 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Friday, November 5th were issued a $0.06 dividend. This is an increase from First Bank’s previous quarterly dividend of $0.03. This represents a $0.24 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Thursday, November 4th. First Bank’s dividend payout ratio is 14.04%.

First Bank Company Profile

First Bank is a state-chartered commercial bank, which offers a traditional range of deposit and loan products to individuals and businesses in its Central and Southern New Jersey markets. Its primary focus within community banking encompasses the company’s primary business which includes providing a wide range of commercial and retail and related banking services.

Further Reading: Cash Flow Analysis in Stock Selection

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Institutional Ownership by Quarter for First Bank (NASDAQ:FRBA)