Nuveen LLC Acquires New Shares in First Bank $FRBA

Nuveen LLC acquired a new stake in shares of First Bank (NASDAQ:FRBA) during the first quarter, according to its most recent filing with the SEC. The fund acquired 33,740 shares of the bank’s stock, valued at approximately $500,000. Nuveen LLC owned 0.17% of First Bank as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in First Bank by 6,607.8% during the first quarter. GAMMA Investing LLC now owns 3,421 shares of the bank’s stock worth $51,000 after buying an additional 3,370 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in First Bank in the 4th quarter worth approximately $170,000. Wells Fargo & Company MN boosted 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 valued at $175,000 after buying an additional 2,697 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of First Bank by 9.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,653 shares of the bank’s stock valued at $178,000 after buying an additional 1,110 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in First Bank by 19.0% during the fourth quarter. MetLife Investment Management LLC now owns 12,924 shares of the bank’s stock valued at $182,000 after buying an additional 2,060 shares during the last quarter. 64.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson lifted their target price on First Bank from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $17.83.

First Bank Stock Performance

Shares of FRBA opened at $16.99 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.75. First Bank has a one year low of $12.74 and a one year high of $16.99. The business has a fifty day moving average of $15.81 and a 200 day moving average of $14.99.

First Bank (NASDAQ:FRBA) last issued its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). First Bank had a return on equity of 9.51% and a net margin of 16.13%.The firm had revenue of $37.10 million during the quarter, compared to the consensus estimate of $35.09 million. As a group, sell-side analysts anticipate that First Bank will post 1.78 earnings per share for the current fiscal year.

First Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, August 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. First Bank’s payout ratio is 15.89%.

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.