IAM Advisory LLC Buys 768 Shares of First Bank (NASDAQ:FRBA)

IAM Advisory LLC increased its stake in First Bank (NASDAQ:FRBA) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 188,198 shares of the bank’s stock after buying an additional 768 shares during the quarter. First Bank makes up 0.7% of IAM Advisory LLC’s portfolio, making the stock its 23rd biggest position. IAM Advisory LLC’s holdings in First Bank were worth $2,648,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FRBA. FNY Investment Advisers LLC bought a new stake in First Bank in the fourth quarter worth $98,000. SG Americas Securities LLC purchased a new position in shares of First Bank in the 3rd quarter worth about $113,000. Hsbc Holdings PLC bought a new position in First Bank in the 2nd quarter worth about $162,000. Fourthstone LLC bought a new stake in First Bank during the 3rd quarter valued at about $199,000. Finally, GSA Capital Partners LLP purchased a new position in First Bank in the third quarter worth about $294,000. Institutional investors own 64.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FRBA shares. StockNews.com upgraded shares of First Bank from a “hold” rating to a “buy” rating in a report on Sunday, December 29th. Piper Sandler reiterated an “overweight” rating and set a $17.00 target price (down from $18.00) on shares of First Bank in a research note on Wednesday, October 30th.

First Bank Price Performance

NASDAQ FRBA opened at $13.82 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $270.46 million, a price-to-earnings ratio of 8.69 and a beta of 0.95. The stock has a 50-day moving average of $14.33 and a 200 day moving average of $14.53. First Bank has a one year low of $11.20 and a one year high of $15.87.

First Bank (NASDAQ:FRBA) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). The company had revenue of $58.64 million during the quarter, compared to the consensus estimate of $32.96 million. First Bank had a return on equity of 11.80% and a net margin of 18.19%. During the same quarter in the prior year, the firm earned $0.42 earnings per share. On average, sell-side analysts forecast that First Bank will post 1.65 EPS for the current year.

First Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Friday, November 8th. First Bank’s payout ratio is currently 15.09%.

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.