First Bank (NASDAQ:FRBA) Stock Crosses Above 50 Day Moving Average of $12.09

Shares of First Bank (NASDAQ:FRBA) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $12.09 and traded as high as $12.14. First Bank shares last traded at $12.01, with a volume of 20,608 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their price objective on shares of First Bank from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th.

First Bank Stock Performance

The company has a market capitalization of $239.34 million, a price-to-earnings ratio of 10.82 and a beta of 0.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The company has a 50 day moving average price of $12.10 and a 200 day moving average price of $13.09.

First Bank (NASDAQ:FRBA) last posted its earnings results on Monday, April 22nd. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.43 by $0.06. First Bank had a net margin of 13.63% and a return on equity of 11.88%. The firm had revenue of $32.28 million for the quarter, compared to analysts’ expectations of $32.50 million. Equities research analysts predict that First Bank will post 1.68 earnings per share for the current fiscal year.

First Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a $0.06 dividend. The ex-dividend date was Thursday, May 9th. This represents a $0.24 dividend on an annualized basis and a yield of 1.96%. First Bank’s dividend payout ratio is 21.24%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in First Bank by 88.0% in the first quarter. BNP Paribas Financial Markets now owns 10,013 shares of the bank’s stock worth $138,000 after acquiring an additional 4,688 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of First Bank during the fourth quarter valued at about $165,000. Quadrature Capital Ltd bought a new position in shares of First Bank during the first quarter valued at about $283,000. Denali Advisors LLC purchased a new position in shares of First Bank during the first quarter valued at about $293,000. Finally, Private Advisor Group LLC increased its position in shares of First Bank by 12.7% during the fourth quarter. Private Advisor Group LLC now owns 23,511 shares of the bank’s stock valued at $346,000 after buying an additional 2,655 shares during the period. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

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.