Dimensional Fund Advisors LP Takes $470,000 Position in First Bank (FRBA)

Dimensional Fund Advisors LP purchased a new position in First Bank (NASDAQ:FRBA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,340 shares of the bank’s stock, valued at approximately $470,000. Dimensional Fund Advisors LP owned approximately 0.27% of First Bank as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. FNY Partners Fund LP purchased a new stake in shares of First Bank during the second quarter worth about $120,000. Janney Montgomery Scott LLC bought a new position in First Bank during the second quarter valued at approximately $140,000. GSA Capital Partners LLP bought a new stake in shares of First Bank in the 2nd quarter valued at approximately $144,000. Northern Trust Corp bought a new stake in shares of First Bank in the 2nd quarter valued at approximately $265,000. Finally, Kennedy Capital Management Inc. purchased a new stake in shares of First Bank in the second quarter worth approximately $608,000. Institutional investors and hedge funds own 36.78% of the company’s stock.

First Bank (NASDAQ:FRBA) opened at $14.05 on Friday. First Bank has a fifty-two week low of $10.60 and a fifty-two week high of $14.95. The stock has a market capitalization of $244.12, a PE ratio of 20.00 and a beta of 0.64.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Friday, November 10th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $0.08 annualized dividend and a dividend yield of 0.57%. First Bank’s dividend payout ratio is presently 12.50%.

FRBA has been the topic of several research reports. Sandler O’Neill upgraded First Bank from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Wednesday, November 1st. Zacks Investment Research cut First Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th.

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First Bank Profile

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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