913,477 Shares in First Bank (FRBA) Acquired by Patriot Financial Partners GP LP
Patriot Financial Partners GP LP bought a new position in shares of First Bank (NASDAQ:FRBA) during the 1st quarter, Holdings Channel reports. The institutional investor bought 913,477 shares of the bank’s stock, valued at approximately $10,532,000. First Bank comprises approximately 4.7% of Patriot Financial Partners GP LP’s investment portfolio, making the stock its 8th largest position. Patriot Financial Partners GP LP owned 0.05% of First Bank at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN increased its position in shares of First Bank by 123.6% in the third quarter. Wells Fargo & Company MN now owns 37,335 shares of the bank’s stock valued at $491,000 after acquiring an additional 20,638 shares during the last quarter. BlackRock Inc. raised its position in First Bank by 10.1% during the third quarter. BlackRock Inc. now owns 789,093 shares of the bank’s stock valued at $10,376,000 after purchasing an additional 72,401 shares in the last quarter. Dimensional Fund Advisors LP raised its position in First Bank by 28.4% during the third quarter. Dimensional Fund Advisors LP now owns 204,732 shares of the bank’s stock valued at $2,692,000 after purchasing an additional 45,282 shares in the last quarter. Vanguard Group Inc. raised its position in First Bank by 5.6% during the third quarter. Vanguard Group Inc. now owns 690,701 shares of the bank’s stock valued at $9,082,000 after purchasing an additional 36,689 shares in the last quarter. Finally, Vanguard Group Inc increased its holdings in shares of First Bank by 5.6% during the third quarter. Vanguard Group Inc now owns 690,701 shares of the bank’s stock worth $9,082,000 after buying an additional 36,689 shares in the last quarter. Hedge funds and other institutional investors own 52.07% of the company’s stock.
NASDAQ:FRBA traded down $0.07 on Wednesday, hitting $11.25. The stock had a trading volume of 144 shares, compared to its average volume of 19,898. The firm has a market cap of $194.42 million, a price-to-earnings ratio of 11.72 and a beta of 0.33. First Bank has a 1 year low of $10.73 and a 1 year high of $15.00.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.03 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.12 annualized dividend and a yield of 1.07%. First Bank’s dividend payout ratio (DPR) is 12.50%.
Separately, Hovde Group began coverage on First Bank in a report on Monday, May 6th. They issued an “outperform” rating and a $13.00 price objective for the company.
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About First Bank
First Bank provides various banking products and services to individuals, businesses, and governmental entities. 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.
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