First Bank (NASDAQ:FRBA) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP grew its holdings in First Bank (NASDAQ:FRBA - Free Report) by 24.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 835,748 shares of the bank's stock after purchasing an additional 161,761 shares during the period. Wellington Management Group LLP owned approximately 4.27% of First Bank worth $12,703,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. IAM Advisory LLC lifted its stake in First Bank by 0.4% during the 3rd quarter. IAM Advisory LLC now owns 187,430 shares of the bank's stock worth $2,849,000 after acquiring an additional 748 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in shares of First Bank by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 72,764 shares of the bank's stock valued at $1,106,000 after purchasing an additional 1,515 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of First Bank by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 60,582 shares of the bank's stock valued at $921,000 after purchasing an additional 2,103 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of First Bank by 5.3% in the third quarter. Empowered Funds LLC now owns 84,509 shares of the bank's stock valued at $1,285,000 after purchasing an additional 4,288 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in First Bank during the 2nd quarter worth approximately $71,000. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of First Bank from a "hold" rating to a "buy" rating in a research note on Friday. Piper Sandler reaffirmed an "overweight" rating and set a $17.00 price objective (down from $18.00) on shares of First Bank in a research report on Wednesday, October 30th.

First Bank Price Performance

Shares of First Bank stock traded down $0.20 during trading on Friday, reaching $14.62. The company's stock had a trading volume of 27,146 shares, compared to its average volume of 47,307. The business has a 50 day moving average price of $14.76 and a 200-day moving average price of $14.23. First Bank has a 12-month low of $11.20 and a 12-month high of $15.87. The company has a market capitalization of $286.11 million, a P/E ratio of 9.19 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.55.

First Bank (NASDAQ:FRBA - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.06). First Bank had a net margin of 18.19% and a return on equity of 11.80%. The business had revenue of $58.64 million for the quarter, compared to analysts' expectations of $32.96 million. During the same quarter last year, the business posted $0.42 earnings per share. As a group, sell-side analysts anticipate that First Bank will post 1.65 EPS for the current year.

First Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, November 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.64%. First Bank's payout ratio is 15.09%.

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.