PL Capital Advisors LLC Sells 56,238 Shares of First Bank (NASDAQ:FRBA)

PL Capital Advisors LLC lessened its position in shares of First Bank (NASDAQ:FRBA) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 498,887 shares of the bank’s stock after selling 56,238 shares during the period. First Bank comprises 2.5% of PL Capital Advisors LLC’s holdings, making the stock its 12th largest position. PL Capital Advisors LLC owned approximately 2.55% of First Bank worth $7,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC bought a new position in shares of First Bank in the 3rd quarter valued at about $212,000. Bank of New York Mellon Corp grew its holdings in shares of First Bank by 27.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 73,742 shares of the bank’s stock valued at $795,000 after acquiring an additional 15,861 shares in the last quarter. Strs Ohio grew its holdings in shares of 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 acquiring an additional 10,200 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of 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 acquiring an additional 8,448 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC bought a new position in shares of First Bank in the 3rd quarter valued at about $892,000. Institutional investors own 64.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their price objective on First Bank from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday.

First Bank Trading Up 1.6 %

Shares of NASDAQ:FRBA opened at $12.14 on Friday. First Bank has a 52-week low of $8.59 and a 52-week high of $15.17. The company has a market capitalization of $237.58 million, a P/E ratio of 10.74 and a beta of 0.87. The company has a 50-day simple moving average of $12.95 and a 200 day simple moving average of $13.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.09.

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

First Bank Announces Dividend

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

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.