First Bank (NASDAQ:FRBA) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in First Bank (NASDAQ:FRBA) by 89.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,493 shares of the bank’s stock after buying an additional 68,260 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.74% of First Bank worth $2,033,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FRBA. Wellington Management Group LLP lifted its stake 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 acquiring an additional 161,761 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of First Bank by 217.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 36,112 shares of the bank’s stock valued at $549,000 after purchasing an additional 24,746 shares in the last quarter. SG Americas Securities LLC raised its position in shares of 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 purchasing an additional 1,982 shares in the last quarter. PL Capital Advisors LLC boosted its stake in shares of First Bank by 1,307.0% during the 4th quarter. PL Capital Advisors LLC now owns 6,737,940 shares of the bank’s stock valued at $94,803,000 after buying an additional 6,259,053 shares during the last quarter. Finally, Barclays PLC grew its position in shares of First Bank by 64.7% during the third quarter. Barclays PLC now owns 52,462 shares of the bank’s stock worth $797,000 after buying an additional 20,602 shares in the last quarter. 64.86% of the stock is owned by hedge funds and other institutional investors.

First Bank Stock Up 0.6 %

Shares of First Bank stock opened at $14.92 on Wednesday. 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 business has a 50-day moving average price of $14.73 and a 200 day moving average price of $14.71. First Bank has a fifty-two week low of $11.20 and a fifty-two week high of $15.87. The firm has a market cap of $291.98 million, a P/E ratio of 8.93 and a beta of 0.94.

First Bank (NASDAQ:FRBA) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.42 earnings per share 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%. On average, sell-side analysts forecast that First Bank will post 1.78 earnings per share for the current fiscal year.

First Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a $0.06 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.61%. First Bank’s payout ratio is currently 14.37%.

Analyst Ratings Changes

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

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.