First Bank (FRBA) Upgraded to “Buy” by Sandler O’Neill
Sandler O’Neill upgraded shares of First Bank (NASDAQ:FRBA) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. They currently have $15.00 target price on the bank’s stock.
Separately, Zacks Investment Research cut First Bank from a strong-buy rating to a hold rating in a report on Tuesday, September 26th.
COPYRIGHT VIOLATION WARNING: This piece was first published by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://www.watchlistnews.com/first-bank-frba-upgraded-to-buy-by-sandler-oneill/1674252.html.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be issued a $0.02 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.08 dividend on an annualized basis and a yield of 0.62%. First Bank’s dividend payout ratio is currently 12.50%.
A number of institutional investors have recently made changes to their positions in FRBA. Stieven Capital Advisors L.P. bought a new position in First Bank in the 2nd quarter worth $5,810,000. Banc Funds Co. LLC raised its holdings in First Bank by 56.9% in the 2nd quarter. Banc Funds Co. LLC now owns 1,364,734 shares of the bank’s stock worth $15,899,000 after purchasing an additional 495,000 shares during the period. Vanguard Group Inc. raised its holdings in First Bank by 2,995.8% in the 2nd quarter. Vanguard Group Inc. now owns 417,537 shares of the bank’s stock worth $4,865,000 after purchasing an additional 404,050 shares during the period. Emerald Mutual Fund Advisers Trust raised its holdings in First Bank by 211.7% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 588,963 shares of the bank’s stock worth $6,861,000 after purchasing an additional 400,000 shares during the period. Finally, Punch & Associates Investment Management Inc. raised its holdings in First Bank by 32.1% in the 2nd quarter. Punch & Associates Investment Management Inc. now owns 343,000 shares of the bank’s stock worth $3,996,000 after purchasing an additional 83,300 shares during the period. 37.30% of the stock is currently owned by institutional investors.
About First Bank
First Bank is a commercial bank. The Company provides a range of lending, deposit and other financial products and services. It operates through Community Banking segment, which is engaged in providing a range of commercial and retail and related banking services. It offers a range of lending products to meet the needs of its customers located within its market areas, including commercial and industrial loans, commercial real estate loans (including owner-occupied, investor, and multi-family loans), residential real estate loans, and consumer and other loans.
Receive News & Ratings for First Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bank and related companies with Analyst Ratings Network's FREE daily email newsletter.