Picton Mahoney Asset Management Takes Position in First Bank (NASDAQ:FRBA)

Picton Mahoney Asset Management acquired a new stake in shares of First Bank (NASDAQ:FRBA) during the fourth quarter, HoldingsChannel reports. The fund acquired 2,182 shares of the bank’s stock, valued at approximately $31,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FNY Investment Advisers LLC bought a new position in shares of First Bank during the fourth quarter valued at approximately $98,000. SG Americas Securities LLC boosted its stake in First Bank by 26.7% in the fourth quarter. SG Americas Securities LLC now owns 9,419 shares of the bank’s stock valued at $133,000 after acquiring an additional 1,982 shares in the last quarter. Fourthstone LLC acquired a new stake in First Bank in the third quarter valued at approximately $199,000. GSA Capital Partners LLP acquired a new stake in First Bank in the third quarter valued at approximately $294,000. Finally, Bailard Inc. acquired a new stake in First Bank in the fourth quarter valued at approximately $398,000. 64.86% of the stock is currently owned by institutional investors.

First Bank Price Performance

Shares of FRBA opened at $14.83 on Tuesday. The company has a market cap of $290.22 million, a price-to-earnings ratio of 8.88 and a beta of 0.94. First Bank has a twelve month low of $11.20 and a twelve month high of $15.87. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $14.70 and a two-hundred day moving average of $14.71.

First Bank (NASDAQ:FRBA) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. First Bank had a net margin of 18.41% and a return on equity of 11.06%. As a group, analysts predict that First Bank will post 1.78 earnings per share for the current fiscal year.

First Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.24 annualized dividend and a dividend yield of 1.62%. First Bank’s payout ratio is currently 14.37%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of First Bank from a “buy” rating to a “hold” rating in a research note on Monday, January 27th.

About First Bank

First Bank provides various banking products and services to small to mid-sized businesses and individuals. 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.