Hillsdale Investment Management Inc. Lowers Position in First Bank (NASDAQ:FRBA)

Hillsdale Investment Management Inc. trimmed its holdings in shares of First Bank (NASDAQ:FRBA) by 33.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,700 shares of the bank’s stock after selling 5,450 shares during the period. Hillsdale Investment Management Inc.’s holdings in First Bank were worth $151,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of First Bank during the third quarter worth about $1,159,000. Charles Schwab Investment Management Inc. grew its stake in First Bank by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 60,582 shares of the bank’s stock worth $921,000 after buying an additional 2,103 shares in the last quarter. Fourthstone LLC purchased a new position in First Bank in the 3rd quarter worth approximately $199,000. State Street Corp increased its holdings in shares of First Bank by 6.2% in the 3rd quarter. State Street Corp now owns 384,047 shares of the bank’s stock worth $5,838,000 after buying an additional 22,452 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of First Bank by 24.0% during the 3rd quarter. Wellington Management Group LLP now owns 835,748 shares of the bank’s stock valued at $12,703,000 after buying an additional 161,761 shares in the last quarter. 64.86% of the stock is currently owned by institutional investors.

First Bank Price Performance

FRBA opened at $14.93 on Tuesday. The stock has a market capitalization of $292.18 million, a P/E ratio of 8.94 and a beta of 0.94. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.66. First Bank has a 12-month low of $11.20 and a 12-month high of $15.87. The stock has a 50-day moving average price of $14.85 and a 200-day moving average price of $14.70.

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

First Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, February 7th. First Bank’s dividend payout ratio is currently 14.37%.

Wall Street Analyst Weigh In

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

First Bank Profile

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.