PL Capital Advisors LLC Decreases Stake in First Bank (NASDAQ:FRBA)

PL Capital Advisors LLC decreased its position in First Bank (NASDAQ:FRBA) by 10.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 498,887 shares of the bank’s stock after selling 56,238 shares during the period. First Bank accounts for 2.5% of PL Capital Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. PL Capital Advisors LLC’s holdings in First Bank were worth $7,334,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. New York State Common Retirement Fund lifted its holdings in First Bank by 766.6% during the third 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 last quarter. Strs Ohio lifted its holdings in shares of First Bank by 26.1% in the third quarter. Strs Ohio now owns 49,300 shares of the bank’s stock worth $531,000 after buying an additional 10,200 shares in the last quarter. Minerva Advisors LLC purchased a new stake in shares of First Bank in the third quarter worth about $443,000. SG Americas Securities LLC purchased a new stake in shares of First Bank in the fourth quarter worth about $165,000. Finally, IAM Advisory LLC lifted its holdings in shares of First Bank by 0.5% in the fourth quarter. IAM Advisory LLC now owns 184,986 shares of the bank’s stock worth $2,719,000 after buying an additional 896 shares in the last quarter. Hedge funds and other institutional investors own 64.86% of the company’s stock.

First Bank Stock Up 1.6 %

FRBA stock opened at $12.14 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average is $12.95 and its 200 day moving average is $13.05. The stock has a market cap of $237.58 million, a price-to-earnings ratio of 10.74 and a beta of 0.87. First Bank has a 1-year low of $8.59 and a 1-year high of $15.17.

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

First Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, May 9th. First Bank’s dividend payout ratio (DPR) is 21.24%.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their price target on shares of First Bank from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday.

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.