First Bank (NASDAQ:FRBA) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC trimmed its holdings in First Bank (NASDAQ:FRBA) by 46.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,559 shares of the bank’s stock after selling 38,189 shares during the period. Bryn Mawr Capital Management LLC owned 0.23% of First Bank worth $655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. PL Capital Advisors LLC acquired a new stake in First Bank in the 3rd quarter valued at about $5,984,000. IAM Advisory LLC lifted its holdings in First Bank by 0.5% in the 4th quarter. IAM Advisory LLC now owns 184,986 shares of the bank’s stock valued at $2,719,000 after purchasing an additional 896 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in First Bank by 27.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 73,742 shares of the bank’s stock valued at $795,000 after purchasing an additional 15,861 shares in the last quarter. Strs Ohio lifted its holdings in First Bank by 26.1% in the 3rd quarter. Strs Ohio now owns 49,300 shares of the bank’s stock valued at $531,000 after purchasing an additional 10,200 shares in the last quarter. Finally, Minerva Advisors LLC purchased a new position in First Bank in the 3rd quarter valued at about $443,000. 64.86% of the stock is owned by institutional investors and hedge funds.

First Bank Trading Up 1.6 %

Shares of FRBA stock opened at $12.14 on Friday. The firm has a market cap of $237.58 million, a P/E ratio of 10.74 and a beta of 0.87. First Bank has a 1-year low of $8.59 and a 1-year high of $15.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.09 and a quick ratio of 1.08. The firm’s 50-day simple moving average is $12.95 and its 200-day simple moving average is $13.04.

First Bank (NASDAQ:FRBA) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. First Bank had a net margin of 13.63% and a return on equity of 12.23%. The business had revenue of $28.00 million for the quarter, compared to analyst estimates of $30.95 million. As a group, equities analysts forecast that First Bank will post 1.7 EPS for the current year.

First Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.24 annualized dividend and a yield of 1.98%. First Bank’s payout ratio is 21.24%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their target price on shares of First Bank from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday.

About First Bank

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.