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

Foundry Partners LLC boosted its stake in shares of First Bank (NASDAQ:FRBA) by 20.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 117,385 shares of the bank’s stock after acquiring an additional 19,735 shares during the period. Foundry Partners LLC owned 0.60% of First Bank worth $1,784,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of First Bank in the 3rd quarter valued at $1,159,000. Inspire Investing LLC acquired a new stake in First Bank in the third quarter valued at $827,000. Dimensional Fund Advisors LP increased its position in shares of First Bank by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 834,690 shares of the bank’s stock valued at $10,633,000 after buying an additional 38,256 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in First Bank in the 1st quarter valued at about $283,000. Finally, Bryn Mawr Capital Management LLC raised its position in shares of First Bank by 1,377.1% in the 2nd quarter. Bryn Mawr Capital Management LLC now owns 21,935 shares of the bank’s stock valued at $279,000 after purchasing an additional 20,450 shares in the last quarter. Institutional investors own 64.86% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. StockNews.com lowered First Bank from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Piper Sandler reaffirmed an “overweight” rating and set a $17.00 price objective (down from $18.00) on shares of First Bank in a research note on Wednesday, October 30th.

First Bank Stock Performance

Shares of FRBA opened at $14.61 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $285.90 million, a PE ratio of 9.19 and a beta of 0.94. The stock has a 50-day moving average of $14.85 and a 200-day moving average of $13.92. First Bank has a one year low of $11.20 and a one year high of $15.87.

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

First Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.24 dividend on an annualized basis and a yield of 1.64%. First Bank’s payout ratio is currently 15.09%.

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.