Hillsdale Investment Management Inc. Sells 5,450 Shares of First Bank (NASDAQ:FRBA)

Hillsdale Investment Management Inc. trimmed its holdings in shares of First Bank (NASDAQ:FRBA) by 33.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,700 shares of the bank’s stock after selling 5,450 shares during the quarter. Hillsdale Investment Management Inc. owned 0.05% of First Bank worth $151,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management bought a new stake in shares of First Bank during the 4th quarter worth $31,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in First Bank by 89.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 144,493 shares of the bank’s stock worth $2,033,000 after buying an additional 68,260 shares during the last quarter. Bailard Inc. bought a new stake in First Bank in the fourth quarter worth about $398,000. PL Capital Advisors LLC boosted its stake in First Bank by 1,307.0% in the fourth quarter. PL Capital Advisors LLC now owns 6,737,940 shares of the bank’s stock valued at $94,803,000 after acquiring an additional 6,259,053 shares during the last quarter. Finally, Rhumbline Advisers grew 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 currently owned by institutional investors.

First Bank Stock Up 2.4 %

FRBA stock opened at $14.93 on Tuesday. First Bank has a fifty-two week low of $11.20 and a fifty-two week high of $15.87. The stock has a fifty day moving average of $14.85 and a 200-day moving average of $14.70. The company has a market capitalization of $292.18 million, a price-to-earnings ratio of 8.94 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.11 and a current ratio of 1.11.

First Bank (NASDAQ:FRBA) last issued its earnings results on Thursday, January 23rd. The bank reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. First Bank had a net margin of 18.41% and a return on equity of 11.06%. As a group, equities research analysts predict that First Bank will post 1.78 earnings per share for the current year.

First Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued 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 1.61%. First Bank’s payout ratio is 14.37%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded 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.