Squarepoint Ops LLC Invests $170,000 in First Bank (NASDAQ:FRBA)

Squarepoint Ops LLC acquired a new position in First Bank (NASDAQ:FRBA) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,082 shares of the bank’s stock, valued at approximately $170,000. Squarepoint Ops LLC owned about 0.06% of First Bank at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management purchased a new position in First Bank in the 4th quarter worth approximately $31,000. SG Americas Securities LLC lifted its holdings in shares of First Bank by 26.7% during the 4th quarter. SG Americas Securities LLC now owns 9,419 shares of the bank’s stock worth $133,000 after acquiring an additional 1,982 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of First Bank by 27.6% during the 4th quarter. Wells Fargo & Company MN now owns 12,452 shares of the bank’s stock worth $175,000 after acquiring an additional 2,697 shares during the last quarter. MetLife Investment Management LLC grew its position in First Bank by 19.0% in the fourth quarter. MetLife Investment Management LLC now owns 12,924 shares of the bank’s stock worth $182,000 after acquiring an additional 2,060 shares in the last quarter. Finally, Martingale Asset Management L P bought a new position in First Bank in the fourth quarter valued at $186,000. 64.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Hovde Group raised their price target on First Bank from $17.00 to $17.50 and gave the company an “outperform” rating in a research report on Thursday, April 24th.

First Bank Stock Up 2.3%

Shares of FRBA opened at $14.84 on Monday. First Bank has a 1 year low of $11.56 and a 1 year high of $15.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a 50 day simple moving average of $14.27 and a two-hundred day simple moving average of $14.50. The firm has a market cap of $290.42 million, a P/E ratio of 8.89 and a beta of 0.74.

First Bank (NASDAQ:FRBA) last announced its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). First Bank had a net margin of 18.41% and a return on equity of 11.06%. The business had revenue of $33.95 million during the quarter, compared to analysts’ expectations of $33.52 million. During the same period last year, the company posted $0.49 EPS. On average, analysts forecast that First Bank will post 1.78 earnings per share for the current fiscal year.

First Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.24 annualized dividend and a yield of 1.62%. First Bank’s payout ratio is 15.58%.

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.