BlackRock Inc. Boosts Stock Position in First Bank (NASDAQ:FRBA)

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BlackRock Inc. boosted its holdings in First Bank (NASDAQ:FRBA) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 859,843 shares of the bank’s stock after purchasing an additional 39,021 shares during the period. BlackRock Inc. owned about 4.93% of First Bank worth $10,094,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC boosted its position in First Bank by 19.8% in the second quarter. Acadian Asset Management LLC now owns 14,972 shares of the bank’s stock worth $176,000 after purchasing an additional 2,476 shares during the last quarter. Strs Ohio boosted its position in First Bank by 29.1% in the second quarter. Strs Ohio now owns 26,200 shares of the bank’s stock worth $307,000 after purchasing an additional 5,900 shares during the last quarter. Perigon Wealth Management LLC purchased a new position in First Bank in the second quarter worth $410,000. Charles Schwab Investment Management Inc. boosted its position in First Bank by 6.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 39,958 shares of the bank’s stock worth $470,000 after purchasing an additional 2,507 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in First Bank by 253.9% in the second quarter. JPMorgan Chase & Co. now owns 52,708 shares of the bank’s stock worth $604,000 after purchasing an additional 37,814 shares during the last quarter. 47.12% of the stock is currently owned by institutional investors and hedge funds.

Separately, ValuEngine upgraded First Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Shares of FRBA opened at $10.64 on Monday. The firm has a market cap of $199.79 million, a PE ratio of 12.38 and a beta of 0.39. The stock’s fifty day moving average price is $10.79 and its two-hundred day moving average price is $11.15. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.13 and a quick ratio of 1.13. First Bank has a 1 year low of $10.29 and a 1 year high of $12.90.

First Bank (NASDAQ:FRBA) last issued its earnings results on Wednesday, July 24th. The bank reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.07). The firm had revenue of $15.09 million during the quarter. First Bank had a net margin of 20.06% and a return on equity of 8.04%.

First Bank Company Profile

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

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