Patriot Financial Partners GP LP grew its holdings in First Bank (NASDAQ:FRBA) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,263,477 shares of the bank’s stock after purchasing an additional 100,000 shares during the period. First Bank makes up 4.8% of Patriot Financial Partners GP LP’s investment portfolio, making the stock its 9th largest position. Patriot Financial Partners GP LP owned 0.07% of First Bank worth $13,683,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in FRBA. Russell Investments Group Ltd. lifted its stake in First Bank by 740.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,089 shares of the bank’s stock worth $109,000 after acquiring an additional 8,889 shares in the last quarter. Acadian Asset Management LLC lifted its stake in First Bank by 19.8% during the 2nd quarter. Acadian Asset Management LLC now owns 14,972 shares of the bank’s stock worth $176,000 after acquiring an additional 2,476 shares in the last quarter. Rhumbline Advisers lifted its stake in First Bank by 10.8% during the 3rd quarter. Rhumbline Advisers now owns 25,155 shares of the bank’s stock worth $272,000 after acquiring an additional 2,459 shares in the last quarter. Strs Ohio lifted its stake in First Bank by 29.1% during the 2nd quarter. Strs Ohio now owns 26,200 shares of the bank’s stock worth $307,000 after acquiring an additional 5,900 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in First Bank by 23.8% during the 3rd quarter. First Trust Advisors LP now owns 34,527 shares of the bank’s stock worth $374,000 after acquiring an additional 6,632 shares in the last quarter. 47.16% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ FRBA traded down $0.04 during trading hours on Friday, hitting $10.88. 7,300 shares of the company were exchanged, compared to its average volume of 34,447. First Bank has a 52-week low of $10.29 and a 52-week high of $12.90. The company has a 50 day moving average of $10.75 and a two-hundred day moving average of $11.09. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.88. The firm has a market cap of $205.05 million, a price-to-earnings ratio of 14.38 and a beta of 0.39.
First Bank (NASDAQ:FRBA) last posted its quarterly earnings data on Wednesday, October 30th. The bank reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). First Bank had a return on equity of 7.16% and a net margin of 16.75%. The company had revenue of $14.88 million for the quarter.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.12 dividend on an annualized basis and a yield of 1.10%.
Separately, ValuEngine raised First Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.
First Bank Company Profile
First Bank provides various banking products and services to individuals, businesses, and governmental entities. 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.
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