First Bank (NASDAQ:FRBA) Share Price Passes Below 200 Day Moving Average of $12.63

First Bank (NASDAQ:FRBA – Get Rating) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.63 and traded as low as $10.67. First Bank shares last traded at $10.70, with a volume of 45,276 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of First Bank from a “sell” rating to a “hold” rating in a research report on Thursday.

First Bank Price Performance

The stock has a market cap of $206.46 million, a P/E ratio of 5.89 and a beta of 0.73. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.07 and a current ratio of 1.07. The business has a 50 day simple moving average of $10.02 and a 200-day simple moving average of $12.58.

First Bank (NASDAQ:FRBA – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The bank reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). The business had revenue of $23.76 million during the quarter. First Bank had a net margin of 28.50% and a return on equity of 12.76%. On average, sell-side analysts forecast that First Bank will post 1.35 EPS for the current year.

First Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, May 12th will be issued a $0.06 dividend. The ex-dividend date is Thursday, May 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.27%. First Bank’s dividend payout ratio (DPR) is presently 13.41%.

Institutional Investors Weigh In On First Bank

A number of hedge funds have recently modified their holdings of FRBA. BlackRock Inc. grew its stake in First Bank by 30.4% in the 1st quarter. BlackRock Inc. now owns 1,206,792 shares of the bank’s stock valued at $12,189,000 after buying an additional 281,640 shares in the last quarter. Wellington Management Group LLP grew its position in shares of First Bank by 740.5% in the first quarter. Wellington Management Group LLP now owns 289,007 shares of the bank’s stock valued at $4,110,000 after purchasing an additional 254,620 shares in the last quarter. Banc Funds Co. LLC raised its stake in shares of First Bank by 8.8% during the 4th quarter. Banc Funds Co. LLC now owns 1,283,721 shares of the bank’s stock valued at $17,664,000 after purchasing an additional 104,000 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of First Bank by 5.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 711,894 shares of the bank’s stock valued at $7,190,000 after purchasing an additional 39,484 shares during the period. Finally, Millennium Management LLC lifted its holdings in First Bank by 180.7% during the 4th quarter. Millennium Management LLC now owns 58,256 shares of the bank’s stock worth $802,000 after purchasing an additional 37,501 shares in the last quarter. Institutional investors own 45.26% of the company’s stock.

About First Bank

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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.