ValuEngine downgraded shares of First Bank (NASDAQ:FRBA) from a hold rating to a sell rating in a research report report published on Thursday.

Separately, Zacks Investment Research upgraded First Bank from a sell rating to a hold rating in a research report on Tuesday, September 25th.

FRBA stock traded down $0.13 during mid-day trading on Thursday, hitting $11.40. 81,900 shares of the company were exchanged, compared to its average volume of 42,588. The firm has a market cap of $205.76 million, a PE ratio of 15.83 and a beta of 0.51. First Bank has a 12-month low of $11.13 and a 12-month high of $15.00.

First Bank (NASDAQ:FRBA) last posted its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.04. The company had revenue of $15.74 million for the quarter, compared to analysts’ expectations of $14.64 million. As a group, sell-side analysts anticipate that First Bank will post 1.05 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in FRBA. BlackRock Inc. boosted its holdings in First Bank by 1,465.0% during the 2nd quarter. BlackRock Inc. now owns 716,692 shares of the bank’s stock valued at $9,960,000 after acquiring an additional 670,898 shares during the period. Northern Trust Corp boosted its stake in shares of First Bank by 546.8% in the second quarter. Northern Trust Corp now owns 160,876 shares of the bank’s stock valued at $2,237,000 after purchasing an additional 136,004 shares during the period. Renaissance Technologies LLC boosted its stake in shares of First Bank by 53.5% in the second quarter. Renaissance Technologies LLC now owns 222,373 shares of the bank’s stock valued at $3,091,000 after purchasing an additional 77,473 shares during the period. Bank of America Corp DE boosted its stake in shares of First Bank by 342.4% in the second quarter. Bank of America Corp DE now owns 75,692 shares of the bank’s stock valued at $1,052,000 after purchasing an additional 58,584 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of First Bank by 28.4% in 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 during the period. Institutional investors own 50.02% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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