First Bank (FRBA) Sets New 52-Week Low at $10.92

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First Bank (NASDAQ:FRBA) shares hit a new 52-week low on Friday . The company traded as low as $10.92 and last traded at $10.92, with a volume of 13019 shares traded. The stock had previously closed at $11.13.

A number of research analysts have recently weighed in on FRBA shares. ValuEngine raised shares of First Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research raised shares of First Bank from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Friday, January 4th.

The company has a market capitalization of $190.45 million, a P/E ratio of 11.35 and a beta of 0.35.

First Bank (NASDAQ:FRBA) last released its earnings results on Thursday, January 24th. The bank reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.06). The business had revenue of $15.14 million for the quarter, compared to analysts’ expectations of $15.44 million.

The company also recently announced a quarterly dividend, which was paid on Friday, February 22nd. Shareholders of record on Friday, February 8th were paid a $0.03 dividend. The ex-dividend date was Thursday, February 7th. This represents a $0.12 annualized dividend and a yield of 1.10%. First Bank’s payout ratio is currently 12.50%.

A number of hedge funds have recently added to or reduced their stakes in FRBA. Millennium Management LLC purchased a new stake in First Bank in the 4th quarter worth approximately $236,000. Rhumbline Advisers lifted its stake in First Bank by 43.8% during the fourth quarter. Rhumbline Advisers now owns 22,163 shares of the bank’s stock valued at $269,000 after purchasing an additional 6,748 shares during the last quarter. First Trust Advisors LP lifted its stake in First Bank by 48.5% during the third quarter. First Trust Advisors LP now owns 23,399 shares of the bank’s stock valued at $308,000 after purchasing an additional 7,646 shares during the last quarter. Wells Fargo & Company MN lifted its stake in First Bank by 123.6% during the third quarter. Wells Fargo & Company MN now owns 37,335 shares of the bank’s stock valued at $491,000 after purchasing an additional 20,638 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in First Bank by 24.5% during the fourth quarter. Bank of New York Mellon Corp now owns 68,589 shares of the bank’s stock valued at $831,000 after purchasing an additional 13,517 shares during the last quarter. 49.54% of the stock is owned by hedge funds and other institutional investors.

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About First Bank (NASDAQ:FRBA)

First Bank provides various banking products and services to individuals, businesses, and governmental entities. 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.

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