Jane Street Group LLC Sells 4,750 Shares of First Bank (NASDAQ:FRBA)

Jane Street Group LLC lowered its stake in First Bank (NASDAQ:FRBA) by 24.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,737 shares of the bank’s stock after selling 4,750 shares during the period. Jane Street Group LLC owned approximately 0.08% of First Bank worth $224,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of First Bank by 24.0% in the third quarter. Wellington Management Group LLP now owns 835,748 shares of the bank’s stock worth $12,703,000 after purchasing an additional 161,761 shares during the period. State Street Corp grew its position in First Bank by 6.2% in the third quarter. State Street Corp now owns 384,047 shares of the bank’s stock valued at $5,838,000 after acquiring an additional 22,452 shares during the last quarter. Fourthstone LLC bought a new position in First Bank in the third quarter valued at about $199,000. Charles Schwab Investment Management Inc. grew its position in First Bank by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 60,582 shares of the bank’s stock valued at $921,000 after acquiring an additional 2,103 shares during the last quarter. Finally, Foundry Partners LLC grew its position in First Bank by 20.2% in the third quarter. Foundry Partners LLC now owns 117,385 shares of the bank’s stock valued at $1,784,000 after acquiring an additional 19,735 shares during the last quarter. Institutional investors own 64.86% of the company’s stock.

First Bank Stock Performance

NASDAQ:FRBA opened at $13.07 on Friday. The stock has a market cap of $255.77 million, a P/E ratio of 8.22 and a beta of 0.95. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.55. The stock’s 50-day moving average is $14.44 and its 200-day moving average is $14.50. First Bank has a 1-year low of $11.20 and a 1-year high of $15.87.

First Bank (NASDAQ:FRBA) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.06). The firm had revenue of $58.64 million for 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 last year, the firm posted $0.42 earnings per share. Equities research analysts anticipate that First Bank will post 1.65 earnings per share for the current year.

First Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Friday, November 8th. First Bank’s dividend payout ratio is currently 15.09%.

Wall Street Analysts Forecast Growth

FRBA has been the topic of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $17.00 target price (down previously from $18.00) on shares of First Bank in a research report on Wednesday, October 30th. StockNews.com upgraded First Bank from a “hold” rating to a “buy” rating in a research report on Sunday, December 29th.

First Bank 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.