Emerald Mutual Fund Advisers Trust Buys 400,000 Shares of First Bank (FRBA)

Emerald Mutual Fund Advisers Trust increased its position in shares of First Bank (NASDAQ:FRBA) by 211.7% during the second quarter, Holdings Channel reports. The fund owned 588,963 shares of the bank’s stock after buying an additional 400,000 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.05% of First Bank worth $6,861,000 as of its most recent filing with the SEC.

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Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new stake in shares of First Bank during the second quarter worth $140,000. HighTower Advisors LLC increased its stake in shares of First Bank by 18.1% in the first quarter. HighTower Advisors LLC now owns 154,750 shares of the bank’s stock worth $1,850,000 after buying an additional 23,750 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of First Bank by 274.8% in the first quarter. Renaissance Technologies LLC now owns 53,600 shares of the bank’s stock worth $641,000 after buying an additional 39,300 shares during the last quarter. Segantii Capital Management Ltd bought a new stake in shares of First Bank during the first quarter worth $156,000. Finally, ClariVest Asset Management LLC bought a new stake in shares of First Bank during the first quarter worth $217,000. 41.21% of the stock is currently owned by institutional investors.

Shares of First Bank (FRBA) opened at 12.80 on Friday. First Bank has a 1-year low of $7.17 and a 1-year high of $14.80. The stock has a market capitalization of $192.19 million, a PE ratio of 20.09 and a beta of 0.53. The firm has a 50-day moving average price of $11.98 and a 200-day moving average price of $12.43.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.08 annualized dividend and a dividend yield of 0.63%. First Bank’s dividend payout ratio is currently 12.50%.

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FRBA has been the topic of a number of recent research reports. Zacks Investment Research cut First Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 1st. ValuEngine upgraded First Bank from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Robert W. Baird upgraded First Bank from a “neutral” rating to an “outperform” rating and set a $14.00 price target for the company in a research note on Tuesday, May 30th.

First Bank Company Profile

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, construction and development and multi-family loans), residential real estate loans, and consumer and other loans.

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