JPMorgan Chase & Co. Grows Position in First Bank (NASDAQ:FRBA)

JPMorgan Chase & Co. raised its position in shares of First Bank (NASDAQ:FRBA) by 217.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,112 shares of the bank’s stock after buying an additional 24,746 shares during the quarter. JPMorgan Chase & Co. owned about 0.18% of First Bank worth $549,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in First Bank during the 3rd quarter valued at approximately $3,872,000. Barclays PLC lifted its stake in shares of First Bank by 64.7% in the 3rd quarter. Barclays PLC now owns 52,462 shares of the bank’s stock valued at $797,000 after purchasing an additional 20,602 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of First Bank by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 469,214 shares of the bank’s stock valued at $7,133,000 after purchasing an additional 5,105 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of First Bank by 24.0% in the 3rd quarter. Wellington Management Group LLP now owns 835,748 shares of the bank’s stock valued at $12,703,000 after purchasing an additional 161,761 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of First Bank by 6.2% in the 3rd quarter. State Street Corp now owns 384,047 shares of the bank’s stock valued at $5,838,000 after purchasing an additional 22,452 shares during the last quarter. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FRBA shares. StockNews.com lowered First Bank from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Piper Sandler reissued an “overweight” rating and set a $17.00 price target (down from $18.00) on shares of First Bank in a research note on Wednesday, October 30th.

First Bank Trading Up 1.1 %

Shares of NASDAQ FRBA opened at $15.69 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $14.37 and a two-hundred day simple moving average of $14.68. The firm has a market cap of $307.05 million, a PE ratio of 9.40 and a beta of 0.95. First Bank has a twelve month low of $11.20 and a twelve month high of $15.87.

First Bank (NASDAQ:FRBA) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. First Bank had a return on equity of 11.06% and a net margin of 18.41%. Analysts expect that First Bank will post 1.78 earnings per share for the current fiscal year.

First Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $0.06 dividend. The ex-dividend date is Friday, February 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.53%. First Bank’s dividend payout ratio is presently 14.37%.

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.