Victory Capital Management Inc. Purchases 1,662 Shares of First Bank (NASDAQ:FRBA)

Victory Capital Management Inc. lifted its position in shares of First Bank (NASDAQ:FRBA) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,400 shares of the bank’s stock after purchasing an additional 1,662 shares during the quarter. Victory Capital Management Inc.’s holdings in First Bank were worth $682,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP bought a new stake in First Bank in the 2nd quarter valued at $138,000. Dimensional Fund Advisors LP lifted its position in First Bank by 7.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 515,882 shares of the bank’s stock valued at $6,985,000 after acquiring an additional 36,009 shares in the last quarter. Marshall Wace LLP lifted its position in First Bank by 36.1% in the 2nd quarter. Marshall Wace LLP now owns 20,334 shares of the bank’s stock valued at $275,000 after acquiring an additional 5,393 shares in the last quarter. Fountainhead AM LLC bought a new stake in First Bank in the 3rd quarter valued at $221,000. Finally, Nuveen Asset Management LLC lifted its position in First Bank by 64.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 44,980 shares of the bank’s stock valued at $609,000 after acquiring an additional 17,585 shares in the last quarter.

Shares of FRBA stock opened at $14.42 on Friday. First Bank has a 1 year low of $8.78 and a 1 year high of $15.90. The firm’s fifty day moving average price is $14.78 and its two-hundred day moving average price is $14.13. The firm has a market capitalization of $270.52 million, a P/E ratio of 8.43 and a beta of 0.91.

First Bank (NASDAQ:FRBA) last issued its quarterly earnings results on Monday, October 25th. The bank reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. First Bank had a net margin of 34.29% and a return on equity of 13.73%. The firm had revenue of $22.68 million for the quarter, compared to analyst estimates of $21.75 million. During the same period in the previous year, the business earned $0.30 EPS. Equities analysts expect that First Bank will post 1.81 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Friday, November 5th were paid a $0.06 dividend. This is a positive change from First Bank’s previous quarterly dividend of $0.03. This represents a $0.24 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Thursday, November 4th. First Bank’s payout ratio is presently 14.04%.

Separately, Zacks Investment Research cut shares of First Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, December 29th.

First Bank Profile

First Bank is a state-chartered commercial bank, which offers a traditional range of deposit and loan products to individuals and businesses in its Central and Southern New Jersey markets. Its primary focus within community banking encompasses the firm’s primary business, which includes providing a wide range of commercial and retail and related banking services.

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Institutional Ownership by Quarter for First Bank (NASDAQ:FRBA)

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