Connor Clark & Lunn Investment Management Ltd. Grows Stock Position in First Bank (NASDAQ:FRBA)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in First Bank (NASDAQ:FRBA - Free Report) by 89.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,493 shares of the bank's stock after acquiring an additional 68,260 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.74% of First Bank worth $2,033,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FRBA. FNY Investment Advisers LLC bought a new position in shares of First Bank in the fourth quarter valued at approximately $98,000. SG Americas Securities LLC grew its holdings in First Bank by 26.7% during the fourth quarter. SG Americas Securities LLC now owns 9,419 shares of the bank's stock valued at $133,000 after purchasing an additional 1,982 shares during the period. Fourthstone LLC bought a new position in First Bank during the third quarter valued at $199,000. GSA Capital Partners LLP bought a new position in First Bank during the third quarter valued at $294,000. Finally, Bailard Inc. bought a new position in First Bank during the fourth quarter valued at $398,000. 64.86% of the stock is owned by institutional investors.

First Bank Stock Performance

Shares of First Bank stock traded down $0.30 during trading hours on Friday, reaching $14.58. The company had a trading volume of 169,976 shares, compared to its average volume of 45,484. First Bank has a one year low of $11.20 and a one year high of $15.87. The business has a fifty day simple moving average of $14.82 and a 200 day simple moving average of $14.71. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $285.33 million, a PE ratio of 8.73 and a beta of 0.94.

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First Bank (NASDAQ:FRBA - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. First Bank had a return on equity of 11.06% and a net margin of 18.41%. On average, analysts anticipate that First Bank will post 1.78 earnings per share for the current fiscal year.

First Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.65%. First Bank's dividend payout ratio (DPR) is presently 14.37%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered First Bank from a "buy" rating to a "hold" rating in a report on Monday, January 27th.

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.