BNP Paribas Financial Markets Sells 21,637 Shares of First Bank (NASDAQ:FRBA)

BNP Paribas Financial Markets lowered its position in shares of First Bank (NASDAQ:FRBA) by 59.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,826 shares of the bank’s stock after selling 21,637 shares during the quarter. BNP Paribas Financial Markets owned 0.08% of First Bank worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of First Bank by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 60,582 shares of the bank’s stock worth $921,000 after acquiring an additional 2,103 shares during the period. Foundry Partners LLC lifted its position in First Bank by 20.2% during the third quarter. Foundry Partners LLC now owns 117,385 shares of the bank’s stock valued at $1,784,000 after purchasing an additional 19,735 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in First Bank during the third quarter valued at about $1,159,000. Segall Bryant & Hamill LLC boosted its stake in First Bank by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 72,764 shares of the bank’s stock worth $1,106,000 after buying an additional 1,515 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of First Bank by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 84,509 shares of the bank’s stock valued at $1,285,000 after purchasing an additional 4,288 shares during the last quarter. Hedge funds and other institutional investors own 64.86% of the company’s stock.

First Bank Price Performance

FRBA opened at $14.69 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.08 and a current ratio of 1.08. First Bank has a 52-week low of $11.20 and a 52-week high of $15.87. The stock has a market capitalization of $287.47 million, a P/E ratio of 9.24 and a beta of 0.94. The company’s 50-day simple moving average is $14.76 and its two-hundred day simple moving average is $14.23.

First Bank (NASDAQ:FRBA) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). The business had revenue of $58.64 million during the quarter, compared to analysts’ expectations of $32.96 million. First Bank had a return on equity of 11.80% and a net margin of 18.19%. During the same period in the previous year, the business posted $0.42 EPS. As a group, analysts predict that First Bank will post 1.65 EPS for the current year.

First Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Friday, November 8th. First Bank’s dividend payout ratio (DPR) is 15.09%.

Wall Street Analyst Weigh In

Several analysts have weighed in on FRBA shares. Piper Sandler reiterated an “overweight” rating and issued a $17.00 price objective (down previously from $18.00) on shares of First Bank in a research report on Wednesday, October 30th. StockNews.com raised First Bank from a “hold” rating to a “buy” rating in a research report on Friday.

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.