Wellington Management Group LLP Lowers Stock Holdings in First Bank (NASDAQ:FRBA)

Wellington Management Group LLP reduced its position in First Bank (NASDAQ:FRBA - Free Report) by 15.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 704,948 shares of the bank's stock after selling 130,800 shares during the quarter. Wellington Management Group LLP owned about 3.60% of First Bank worth $9,919,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in shares of First Bank by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 60,582 shares of the bank's stock worth $921,000 after purchasing an additional 2,103 shares in the last quarter. State Street Corp raised its stake in First Bank by 6.2% in the third quarter. State Street Corp now owns 384,047 shares of the bank's stock valued at $5,838,000 after buying an additional 22,452 shares during the last quarter. Barclays PLC boosted its holdings in First Bank by 64.7% in the third quarter. Barclays PLC now owns 52,462 shares of the bank's stock worth $797,000 after acquiring an additional 20,602 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of First Bank by 1.1% during the third quarter. Geode Capital Management LLC now owns 469,214 shares of the bank's stock worth $7,133,000 after acquiring an additional 5,105 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of First Bank during the third quarter valued at about $3,872,000. 64.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of First Bank from a "buy" rating to a "hold" rating in a research note on Monday, January 27th.

First Bank Stock Performance

FRBA traded up $0.35 on Tuesday, reaching $13.46. 6,892 shares of the stock were exchanged, compared to its average volume of 48,653. 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 company's 50-day moving average price is $14.68 and its 200 day moving average price is $14.57. The firm has a market capitalization of $263.41 million, a PE ratio of 8.06 and a beta of 0.76. First Bank has a fifty-two week low of $11.20 and a fifty-two week high of $15.87.

First Bank (NASDAQ:FRBA - Get Free Report) last issued its earnings results on Thursday, January 23rd. The bank reported $0.42 EPS for the quarter, beating 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%. As a group, sell-side analysts forecast that First Bank will post 1.78 EPS for the current fiscal year.

First Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.24 dividend on an annualized basis and a yield of 1.78%. First Bank's dividend payout ratio is presently 14.37%.

First Bank Company Profile

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.