Wellington Management Group LLP Grows Stock Holdings in First Bank (NASDAQ:FRBA)

Wellington Management Group LLP lifted its stake in shares of First Bank (NASDAQ:FRBA) by 24.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 835,748 shares of the bank’s stock after acquiring an additional 161,761 shares during the quarter. Wellington Management Group LLP owned approximately 4.27% of First Bank worth $12,703,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Inspire Investing LLC bought a new position in First Bank in the third quarter worth approximately $827,000. Dimensional Fund Advisors LP lifted its holdings in shares of First Bank by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 834,690 shares of the bank’s stock worth $10,633,000 after buying an additional 38,256 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of First Bank during the 2nd quarter worth $71,000. Foundry Partners LLC increased its stake in shares of First Bank by 14.8% during the second quarter. Foundry Partners LLC now owns 97,650 shares of the bank’s stock valued at $1,244,000 after buying an additional 12,575 shares during the period. Finally, Bryn Mawr Capital Management LLC raised its holdings in shares of First Bank by 1,377.1% in the second quarter. Bryn Mawr Capital Management LLC now owns 21,935 shares of the bank’s stock valued at $279,000 after acquiring an additional 20,450 shares in the last quarter. 64.86% of the stock is owned by hedge funds and other institutional investors.

First Bank Trading Down 1.3 %

Shares of NASDAQ FRBA opened at $14.62 on Friday. The business has a fifty day moving average price of $14.76 and a 200 day moving average price of $14.22. First Bank has a 1-year low of $11.20 and a 1-year high of $15.87. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $286.11 million, a P/E ratio of 9.19 and a beta of 0.94.

First Bank (NASDAQ:FRBA) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.06). First Bank had a net margin of 18.19% and a return on equity of 11.80%. The firm had revenue of $58.64 million for the quarter, compared to analysts’ expectations of $32.96 million. During the same period in the previous year, the company posted $0.42 earnings per share. Equities research analysts expect that First Bank will post 1.65 EPS for the current fiscal year.

First Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Friday, November 8th. First Bank’s dividend payout ratio is currently 15.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. StockNews.com raised shares of First Bank from a “hold” rating to a “buy” rating in a research report on Friday. Piper Sandler reissued an “overweight” rating and set a $17.00 price objective (down from $18.00) on shares of First Bank in a report on Wednesday, October 30th.

First Bank Company Profile

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.