Wilmington Savings Fund Society FSB Takes Position in First Bank (NASDAQ:FRBA)

Wilmington Savings Fund Society FSB purchased a new stake in First Bank (NASDAQ:FRBA - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 254,719 shares of the bank's stock, valued at approximately $3,872,000. Wilmington Savings Fund Society FSB owned approximately 1.30% of First Bank at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of FRBA. Barclays PLC raised its position in First Bank by 64.7% in the 3rd quarter. Barclays PLC now owns 52,462 shares of the bank's stock valued at $797,000 after buying an additional 20,602 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of First Bank by 1.1% in the third quarter. Geode Capital Management LLC now owns 469,214 shares of the bank's stock valued at $7,133,000 after purchasing an additional 5,105 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of First Bank by 24.0% in the third quarter. Wellington Management Group LLP now owns 835,748 shares of the bank's stock worth $12,703,000 after purchasing an additional 161,761 shares in the last quarter. State Street Corp boosted its holdings in First Bank by 6.2% during the third quarter. State Street Corp now owns 384,047 shares of the bank's stock worth $5,838,000 after purchasing an additional 22,452 shares during the last quarter. Finally, Fourthstone LLC acquired a new stake in First Bank in the 3rd quarter valued at $199,000. 64.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FRBA shares. StockNews.com upgraded First Bank from a "hold" rating to a "buy" rating in a report on Friday. Piper Sandler reaffirmed an "overweight" rating and set a $17.00 price target (down previously from $18.00) on shares of First Bank in a research report on Wednesday, October 30th.

First Bank Stock Performance

Shares of FRBA traded down $0.25 during midday trading on Friday, reaching $14.57. The stock had a trading volume of 19,872 shares, compared to its average volume of 47,277. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.55. The firm has a 50 day simple moving average of $14.77 and a 200-day simple moving average of $14.19. The firm has a market cap of $285.13 million, a PE ratio of 9.32 and a beta of 0.94. First Bank has a one year low of $11.20 and a one year high of $15.87.

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

First Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Friday, November 8th. First Bank's dividend payout ratio is 15.09%.

First Bank 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.