First Bank (NASDAQ:FRBA) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in shares of First Bank (NASDAQ:FRBA) by 9.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,653 shares of the bank’s stock after purchasing an additional 1,110 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of First Bank worth $178,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. PL Capital Advisors LLC boosted its stake in shares of First Bank by 1,307.0% during the 4th quarter. PL Capital Advisors LLC now owns 6,737,940 shares of the bank’s stock worth $94,803,000 after acquiring an additional 6,259,053 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of First Bank by 3.1% during the 4th quarter. Alliancebernstein L.P. now owns 890,825 shares of the bank’s stock worth $12,534,000 after acquiring an additional 26,500 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of First Bank by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 890,493 shares of the bank’s stock worth $12,529,000 after acquiring an additional 23,012 shares in the last quarter. Northern Trust Corp boosted its stake in shares of First Bank by 3.6% during the 4th quarter. Northern Trust Corp now owns 183,624 shares of the bank’s stock worth $2,584,000 after acquiring an additional 6,319 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in shares of First Bank by 2.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 173,954 shares of the bank’s stock worth $2,448,000 after acquiring an additional 4,215 shares in the last quarter. 64.86% of the stock is owned by institutional investors and hedge funds.

First Bank Stock Performance

FRBA stock opened at $14.48 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.75. The firm’s 50 day moving average price is $14.41 and its 200-day moving average price is $14.50. First Bank has a one year low of $11.68 and a one year high of $15.87.

First Bank (NASDAQ:FRBA) last released its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $33.95 million for the quarter, compared to analyst estimates of $33.52 million. First Bank had a return on equity of 9.99% and a net margin of 16.88%. During the same quarter last year, the company earned $0.49 earnings per share. As a group, equities research analysts forecast that First Bank will post 1.78 EPS for the current year.

First Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.66%. First Bank’s payout ratio is currently 15.58%.

Analysts Set New Price Targets

Separately, Hovde Group lifted their price objective on First Bank from $17.00 to $17.50 and gave the stock an “outperform” rating in a report on Thursday, 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.