First Bank (NASDAQ:FRBA) Short Interest Update

First Bank (NASDAQ:FRBA) saw a significant increase in short interest in March. As of March 13th, there was short interest totaling 172,155 shares, an increase of 27.0% from the February 26th total of 135,526 shares. Based on an average daily trading volume, of 71,853 shares, the days-to-cover ratio is presently 2.4 days. Approximately 0.7% of the shares of the stock are short sold.

First Bank Trading Up 0.1%

Shares of FRBA stock traded up $0.02 on Monday, reaching $15.79. The company had a trading volume of 1,579 shares, compared to its average volume of 66,166. The stock has a market cap of $396.33 million, a PE ratio of 9.07 and a beta of 0.70. The company has a 50-day moving average of $16.37 and a 200-day moving average of $16.23. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. First Bank has a 12 month low of $12.74 and a 12 month high of $18.11.

First Bank (NASDAQ:FRBA) last issued its quarterly earnings data on Monday, January 26th. The bank reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. First Bank had a net margin of 17.76% and a return on equity of 10.32%. The firm had revenue of $38.46 million during the quarter, compared to analysts’ expectations of $37.42 million. On average, equities analysts forecast that First Bank will post 1.78 earnings per share for the current year.

First Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were given a $0.09 dividend. The ex-dividend date was Friday, February 6th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.3%. First Bank’s dividend payout ratio is currently 20.69%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Zacks Research downgraded shares of First Bank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Bank in a research report on Monday, December 29th. Finally, DA Davidson started coverage on shares of First Bank in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $18.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, First Bank has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its stake in First Bank by 4,782.0% during the 2nd quarter. Osaic Holdings Inc. now owns 199,236 shares of the bank’s stock worth $3,082,000 after purchasing an additional 195,155 shares in the last quarter. American Century Companies Inc. lifted its holdings in First Bank by 14.2% during the 2nd quarter. American Century Companies Inc. now owns 251,561 shares of the bank’s stock valued at $3,892,000 after purchasing an additional 31,370 shares during the last quarter. Royce & Associates LP boosted its stake in shares of First Bank by 93.0% in the third quarter. Royce & Associates LP now owns 564,089 shares of the bank’s stock valued at $9,189,000 after buying an additional 271,825 shares during the period. Geode Capital Management LLC lifted its position in shares of First Bank by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 485,358 shares of the bank’s stock worth $7,510,000 after buying an additional 9,006 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of First Bank during the fourth quarter worth $183,000. 64.86% of the stock is owned by institutional investors and hedge funds.

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. It also offers various loan products comprising commercial and industrial loans, which include line of credit, inventory, equipment, and short-term working capital financing; commercial real estate loans, such as owner-occupied, investor, construction and development, and multi-family loans; residential real estate loans comprising residential mortgages, first and second lien home equity loans, and revolving lines of credit; and consumer and other loans consists of auto, personal, traditional installment, and other loans.