First Bank (NASDAQ:FRBA) Cut to Hold at StockNews.com

StockNews.com lowered shares of First Bank (NASDAQ:FRBA) from a buy rating to a hold rating in a research note issued to investors on Friday.

Separately, Piper Sandler reduced their price objective on First Bank from $16.00 to $15.00 and set an overweight rating for the company in a research report on Wednesday, April 24th.

First Bank Trading Down 0.1 %

FRBA opened at $14.36 on Friday. The stock has a market cap of $281.03 million, a PE ratio of 12.71 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average of $12.41 and a 200-day moving average of $12.93. First Bank has a 52 week low of $10.51 and a 52 week high of $15.17.

First Bank (NASDAQ:FRBA) last released its earnings results on Monday, April 22nd. The bank reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. First Bank had a return on equity of 11.88% and a net margin of 13.63%. The company had revenue of $32.28 million during the quarter, compared to analysts’ expectations of $32.50 million. Equities research analysts predict that First Bank will post 1.68 earnings per share for the current fiscal year.

First Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Thursday, May 9th. First Bank’s dividend payout ratio (DPR) is presently 21.24%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its holdings in shares of First Bank by 88.0% in the 1st quarter. BNP Paribas Financial Markets now owns 10,013 shares of the bank’s stock worth $138,000 after purchasing an additional 4,688 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of First Bank in the 4th quarter worth $165,000. Quadrature Capital Ltd bought a new stake in shares of First Bank in the 1st quarter worth $283,000. Denali Advisors LLC bought a new stake in shares of First Bank in the 1st quarter worth $293,000. Finally, Private Advisor Group LLC increased its holdings in shares of First Bank by 12.7% in the 4th quarter. Private Advisor Group LLC now owns 23,511 shares of the bank’s stock worth $346,000 after purchasing an additional 2,655 shares in the last quarter. Institutional investors own 64.86% of the company’s stock.

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.