Northern Trust Corp Acquires 136,004 Shares of First Bank (FRBA)

Northern Trust Corp lifted its holdings in shares of First Bank (NASDAQ:FRBA) by 546.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 160,876 shares of the bank’s stock after purchasing an additional 136,004 shares during the period. Northern Trust Corp owned about 0.92% of First Bank worth $2,237,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in shares of First Bank by 1,278.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,781 shares of the bank’s stock valued at $178,000 after purchasing an additional 11,854 shares during the last quarter. Rhumbline Advisers bought a new position in shares of First Bank during the 2nd quarter valued at $198,000. Private Advisor Group LLC bought a new position in shares of First Bank during the 2nd quarter valued at $295,000. Schwab Charles Investment Management Inc. bought a new position in shares of First Bank during the 2nd quarter valued at $431,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of First Bank by 294.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 51,992 shares of the bank’s stock valued at $723,000 after purchasing an additional 38,823 shares during the last quarter. 50.54% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on FRBA shares. Zacks Investment Research raised shares of First Bank from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. ValuEngine lowered shares of First Bank from a “hold” rating to a “sell” rating in a report on Saturday, September 22nd. Finally, BidaskClub raised shares of First Bank from a “sell” rating to a “hold” rating in a report on Friday, September 7th.

Shares of First Bank stock opened at $11.94 on Friday. The firm has a market capitalization of $206.46 million, a price-to-earnings ratio of 12.73 and a beta of 0.63. First Bank has a 12-month low of $11.51 and a 12-month high of $15.00.

First Bank (NASDAQ:FRBA) last announced its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $15.74 million during the quarter, compared to the consensus estimate of $14.64 million. On average, equities analysts expect that First Bank will post 1.05 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Friday, November 9th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Thursday, November 8th. First Bank’s dividend payout ratio (DPR) is presently 16.67%.

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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.

Read More: Understanding Compound Annual Growth Rate (CAGR)

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

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