Foundry Partners LLC Lowers Stake in First Bank (NASDAQ:FRBA)

Foundry Partners LLC lowered its stake in shares of First Bank (NASDAQ:FRBA) by 1.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 85,480 shares of the bank’s stock after selling 1,575 shares during the period. Foundry Partners LLC’s holdings in First Bank were worth $1,257,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FRBA. New York State Common Retirement Fund boosted its position in First Bank by 766.6% in the 3rd quarter. New York State Common Retirement Fund now owns 9,550 shares of the bank’s stock valued at $103,000 after buying an additional 8,448 shares during the period. SG Americas Securities LLC purchased a new position in First Bank in the 4th quarter valued at approximately $165,000. Commonwealth Equity Services LLC purchased a new position in First Bank in the 3rd quarter valued at approximately $212,000. Minerva Advisors LLC purchased a new position in First Bank in the 3rd quarter valued at approximately $443,000. Finally, Strs Ohio boosted its position in First Bank by 26.1% in the 3rd quarter. Strs Ohio now owns 49,300 shares of the bank’s stock valued at $531,000 after buying an additional 10,200 shares during the period. Hedge funds and other institutional investors own 64.86% of the company’s stock.

First Bank Price Performance

Shares of FRBA opened at $12.49 on Tuesday. First Bank has a twelve month low of $8.59 and a twelve month high of $15.17. The firm’s fifty day simple moving average is $13.08 and its 200-day simple moving average is $13.04. The firm has a market capitalization of $244.43 million, a price-to-earnings ratio of 12.62 and a beta of 0.87. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63.

First Bank (NASDAQ:FRBA) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. First Bank had a net margin of 12.06% and a return on equity of 11.21%. The business had revenue of $28.00 million for the quarter, compared to analyst estimates of $30.95 million. Equities analysts forecast that First Bank will post 1.73 EPS for the current fiscal year.

First Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a $0.06 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.92%. First Bank’s payout ratio is 24.24%.

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.