Patriot Financial Partners GP LP grew its holdings in First Bank (NASDAQ:FRBA) by 8.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,263,477 shares of the bank’s stock after purchasing an additional 100,000 shares during the period. First Bank comprises approximately 4.8% of Patriot Financial Partners GP LP’s holdings, making the stock its 9th largest holding. Patriot Financial Partners GP LP owned approximately 6.73% of First Bank worth $13,683,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. increased its stake in shares of First Bank by 4.8% during the second quarter. BlackRock Inc. now owns 859,843 shares of the bank’s stock valued at $10,094,000 after buying an additional 39,021 shares during the period. JPMorgan Chase & Co. increased its stake in shares of First Bank by 253.9% during the second quarter. JPMorgan Chase & Co. now owns 52,708 shares of the bank’s stock valued at $604,000 after buying an additional 37,814 shares during the period. Perigon Wealth Management LLC purchased a new position in shares of First Bank during the second quarter valued at $410,000. Vanguard Group Inc. increased its stake in shares of First Bank by 2.7% during the second quarter. Vanguard Group Inc. now owns 953,593 shares of the bank’s stock valued at $11,196,000 after buying an additional 24,652 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of First Bank by 22.8% during the second quarter. Victory Capital Management Inc. now owns 108,610 shares of the bank’s stock valued at $1,275,000 after buying an additional 20,160 shares during the period. Institutional investors and hedge funds own 47.16% of the company’s stock.
Separately, ValuEngine upgraded First Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.
Shares of First Bank stock traded down $0.04 during trading on Friday, hitting $10.88. 7,300 shares of the stock traded hands, compared to its average volume of 34,447. First Bank has a 52-week low of $10.29 and a 52-week high of $12.90. The firm has a market cap of $205.05 million, a P/E ratio of 14.38 and a beta of 0.39. The stock’s fifty day simple moving average is $10.75 and its 200 day simple moving average is $11.09. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.88.
First Bank (NASDAQ:FRBA) last announced its quarterly earnings results on Wednesday, October 30th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). First Bank had a net margin of 16.75% and a return on equity of 7.16%. The company had revenue of $14.88 million during the quarter.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, November 7th.
First Bank 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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