Osaic Holdings Inc. Has $3.08 Million Stock Position in First Bank $FRBA

Osaic Holdings Inc. raised its holdings in shares of First Bank (NASDAQ:FRBA) by 4,782.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 199,236 shares of the bank’s stock after purchasing an additional 195,155 shares during the period. Osaic Holdings Inc.’s holdings in First Bank were worth $3,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Strs Ohio bought a new stake in shares of First Bank during the first quarter worth approximately $469,000. Goldman Sachs Group Inc. grew its holdings in First Bank by 1.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 78,677 shares of the bank’s stock worth $1,165,000 after acquiring an additional 964 shares during the period. Nuveen LLC bought a new stake in shares of First Bank during the 1st quarter valued at $500,000. Hsbc Holdings PLC acquired a new position in shares of First Bank in the 1st quarter valued at $480,000. Finally, American Century Companies Inc. lifted its stake in shares of First Bank by 14.2% in the 2nd quarter. American Century Companies Inc. now owns 251,561 shares of the bank’s stock valued at $3,892,000 after purchasing an additional 31,370 shares during the period. Institutional investors own 64.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FRBA shares. DA Davidson downgraded First Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Zacks Research upgraded First Bank from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Bank in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, First Bank has a consensus rating of “Buy” and an average price target of $18.25.

First Bank Price Performance

Shares of FRBA opened at $16.80 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. The stock has a 50 day simple moving average of $16.09 and a 200 day simple moving average of $15.90. First Bank has a 52-week low of $12.74 and a 52-week high of $18.11.

First Bank (NASDAQ:FRBA) last announced its earnings results on Wednesday, October 22nd. The bank reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The firm had revenue of $37.97 million for the quarter, compared to the consensus estimate of $36.76 million. First Bank had a net margin of 17.27% and a return on equity of 10.02%. On average, sell-side analysts forecast that First Bank will post 1.78 EPS for the current fiscal year.

First Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 7th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.24 dividend on an annualized basis and a yield of 1.4%. First Bank’s dividend payout ratio is presently 14.46%.

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. It also offers various loan products comprising commercial and industrial loans, which include line of credit, inventory, equipment, and short-term working capital financing; commercial real estate loans, such as owner-occupied, investor, construction and development, and multi-family loans; residential real estate loans comprising residential mortgages, first and second lien home equity loans, and revolving lines of credit; and consumer and other loans consists of auto, personal, traditional installment, and other loans.