Bryn Mawr Capital Management LLC Has $655,000 Stake in First Bank (NASDAQ:FRBA)

Bryn Mawr Capital Management LLC decreased its holdings in First Bank (NASDAQ:FRBA) by 46.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 44,559 shares of the bank’s stock after selling 38,189 shares during the period. Bryn Mawr Capital Management LLC’s holdings in First Bank were worth $655,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. New York State Common Retirement Fund increased its holdings in shares of First Bank by 766.6% in the 3rd quarter. New York State Common Retirement Fund now owns 9,550 shares of the bank’s stock valued at $103,000 after purchasing an additional 8,448 shares during the period. SG Americas Securities LLC acquired a new position in shares of First Bank in the 4th quarter valued at about $165,000. Commonwealth Equity Services LLC acquired a new position in shares of First Bank in the 3rd quarter valued at about $212,000. Minerva Advisors LLC bought a new stake in shares of First Bank in the 3rd quarter valued at approximately $443,000. Finally, Strs Ohio grew its stake in shares of First Bank by 26.1% in the 3rd quarter. Strs Ohio now owns 49,300 shares of the bank’s stock valued at $531,000 after buying an additional 10,200 shares in the last quarter. Institutional investors and hedge funds own 64.86% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler lowered their price target on First Bank from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday.

First Bank Trading Up 1.6 %

Shares of NASDAQ FRBA opened at $12.14 on Friday. The stock has a market cap of $237.58 million, a price-to-earnings ratio of 10.74 and a beta of 0.87. The business has a 50 day simple moving average of $12.95 and a 200 day simple moving average of $13.04. First Bank has a 52 week low of $8.59 and a 52 week high of $15.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.09.

First Bank (NASDAQ:FRBA) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $0.49 EPS for the quarter, beating the consensus estimate of $0.37 by $0.12. The business had revenue of $28.00 million during the quarter, compared to analysts’ expectations of $30.95 million. First Bank had a return on equity of 12.23% and a net margin of 13.63%. On average, research analysts predict that First Bank will post 1.7 earnings per share for the current fiscal year.

First Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.24 annualized dividend and a dividend yield of 1.98%. First Bank’s payout ratio is 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.