JPMorgan Chase & Co. Has $1.08 Million Stake in First Bank (NASDAQ:FRBA)

JPMorgan Chase & Co. raised its stake in First Bank (NASDAQ:FRBA - Free Report) by 112.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,592 shares of the bank's stock after acquiring an additional 40,480 shares during the quarter. JPMorgan Chase & Co. owned about 0.39% of First Bank worth $1,078,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new stake in First Bank in the 4th quarter valued at about $31,000. FNY Investment Advisers LLC bought a new position in First Bank during the 4th quarter worth $98,000. SG Americas Securities LLC raised its holdings in First Bank by 26.7% in the 4th quarter. SG Americas Securities LLC now owns 9,419 shares of the bank's stock valued at $133,000 after acquiring an additional 1,982 shares in the last quarter. Bailard Inc. bought a new stake in shares of First Bank during the 4th quarter valued at $398,000. Finally, Rhumbline Advisers lifted its position in shares of First Bank by 2.4% during the 4th quarter. Rhumbline Advisers now owns 30,535 shares of the bank's stock valued at $430,000 after acquiring an additional 730 shares during the period. 64.86% of the stock is owned by institutional investors and hedge funds.

First Bank Stock Performance

NASDAQ:FRBA opened at $13.89 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $271.83 million, a PE ratio of 8.32 and a beta of 0.76. First Bank has a twelve month low of $11.20 and a twelve month high of $15.87. The stock's 50-day simple moving average is $14.37 and its 200 day simple moving average is $14.51.

First Bank (NASDAQ:FRBA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $33.95 million for the quarter, compared to analyst estimates of $33.52 million. First Bank had a net margin of 18.41% and a return on equity of 11.06%. During the same period last year, the business earned $0.49 EPS. On average, analysts anticipate that First Bank will post 1.78 EPS for the current fiscal year.

First Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.24 dividend on an annualized basis and a yield of 1.73%. First Bank's dividend payout ratio (DPR) is presently 15.58%.

Analysts Set New Price Targets

FRBA has been the subject of a number of analyst reports. StockNews.com downgraded First Bank from a "buy" rating to a "hold" rating in a research note on Monday, January 27th. Hovde Group increased their price target on shares of First Bank from $17.00 to $17.50 and gave the stock an "outperform" rating in a research report on Thursday.

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.

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