Strs Ohio Trims Stock Position in First Bank (NASDAQ:FRBA)

Strs Ohio reduced its stake in shares of First Bank (NASDAQ:FRBA) by 59.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the bank’s stock after selling 29,300 shares during the quarter. Strs Ohio’s holdings in First Bank were worth $294,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of First Bank in the 4th quarter valued at about $165,000. IAM Advisory LLC increased its stake in shares of First Bank by 0.5% during the fourth quarter. IAM Advisory LLC now owns 184,986 shares of the bank’s stock worth $2,719,000 after purchasing an additional 896 shares in the last quarter. Minerva Advisors LLC acquired a new position in shares of First Bank during the third quarter valued at approximately $443,000. Bryn Mawr Capital Management LLC acquired a new position in First Bank in the 3rd quarter valued at $892,000. Finally, New York State Common Retirement Fund grew its holdings in shares of First Bank by 766.6% during the third quarter. New York State Common Retirement Fund now owns 9,550 shares of the bank’s stock worth $103,000 after buying an additional 8,448 shares in the last quarter. 64.86% of the stock is owned by hedge funds and other institutional investors.

First Bank Price Performance

NASDAQ:FRBA opened at $11.81 on Tuesday. First Bank has a one year low of $8.59 and a one year high of $15.17. The stock has a market cap of $231.12 million, a PE ratio of 10.45 and a beta of 0.87. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.09. The stock has a 50 day moving average price of $12.91 and a 200 day moving average price of $13.07.

First Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, May 9th. First Bank’s payout ratio is currently 21.24%.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their price target on shares of First Bank from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th.

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.