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.

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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.

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