First Bank (FRBA) Holdings Reduced by HighTower Advisors LLC

HighTower Advisors LLC decreased its holdings in First Bank (NASDAQ:FRBA) by 27.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,000 shares of the bank’s stock after selling 41,750 shares during the quarter. HighTower Advisors LLC owned approximately 0.75% of First Bank worth $1,316,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Stieven Capital Advisors L.P. acquired a new stake in shares of First Bank during the 2nd quarter valued at approximately $5,810,000. Banc Funds Co. LLC raised its position in shares of First Bank by 56.9% during the 2nd quarter. Banc Funds Co. LLC now owns 1,364,734 shares of the bank’s stock valued at $15,899,000 after acquiring an additional 495,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of First Bank by 2,995.8% during the 2nd quarter. Vanguard Group Inc. now owns 417,537 shares of the bank’s stock valued at $4,865,000 after acquiring an additional 404,050 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of First Bank by 211.7% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 588,963 shares of the bank’s stock valued at $6,861,000 after acquiring an additional 400,000 shares in the last quarter. Finally, Kennedy Capital Management Inc. acquired a new stake in shares of First Bank during the 2nd quarter valued at approximately $608,000. Institutional investors own 43.31% of the company’s stock.

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Several equities research analysts recently issued reports on FRBA shares. Zacks Investment Research downgraded First Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Sandler O’Neill assumed coverage on First Bank in a research note on Wednesday. They set a “hold” rating for the company.

First Bank (NASDAQ:FRBA) opened at 12.70 on Wednesday. First Bank has a 52 week low of $8.51 and a 52 week high of $14.80. The company’s 50-day moving average price is $12.63 and its 200 day moving average price is $12.36. The company has a market cap of $190.69 million, a PE ratio of 19.94 and a beta of 0.60.

About First Bank

First Bank is a commercial bank. The Company provides a range of lending, deposit and other financial products and services. It operates through Community Banking segment, which is engaged in providing a range of commercial and retail and related banking services. It offers a range of lending products to meet the needs of its customers located within its market areas, including commercial and industrial loans, commercial real estate loans (including owner-occupied, investor, and multi-family loans), residential real estate loans, and consumer and other loans.

Institutional Ownership by Quarter for First Bank (NASDAQ:FRBA)

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