First Bank (NASDAQ:FRBA) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

First Bank (NASDAQ:FRBA)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.26 and traded as low as $16.11. First Bank shares last traded at $16.35, with a volume of 83,585 shares trading hands.

Analyst Ratings Changes

Several analysts recently weighed in on FRBA shares. Zacks Research lowered First Bank from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. DA Davidson reissued a “neutral” rating and issued a $17.00 price objective on shares of First Bank in a report on Tuesday, April 28th. Weiss Ratings lowered First Bank from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Finally, Piper Sandler lowered their price objective on First Bank from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.50.

First Bank Price Performance

The company has a market capitalization of $415.34 million, a P/E ratio of 9.91 and a beta of 0.55. The company has a fifty day moving average price of $15.91 and a 200 day moving average price of $16.26. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.11.

First Bank (NASDAQ:FRBA) last posted its earnings results on Monday, April 27th. The bank reported $0.30 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.17). The company had revenue of $36.39 million for the quarter, compared to the consensus estimate of $36.99 million. First Bank had a net margin of 17.02% and a return on equity of 9.69%. On average, sell-side analysts forecast that First Bank will post 1.56 EPS for the current fiscal year.

First Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.36 annualized dividend and a dividend yield of 2.2%. First Bank’s dividend payout ratio is 21.56%.

Hedge Funds Weigh In On First Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP grew its holdings in First Bank by 93.0% in the 3rd quarter. Royce & Associates LP now owns 564,089 shares of the bank’s stock worth $9,189,000 after buying an additional 271,825 shares in the last quarter. New York State Common Retirement Fund grew its holdings in First Bank by 118.3% in the 3rd quarter. New York State Common Retirement Fund now owns 2,952 shares of the bank’s stock worth $48,000 after buying an additional 1,600 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in First Bank in the 3rd quarter worth approximately $169,000. Lazard Asset Management LLC bought a new position in First Bank in the 2nd quarter worth approximately $154,000. Finally, BNP Paribas Financial Markets lifted its position in First Bank by 48.1% in the third quarter. BNP Paribas Financial Markets now owns 6,843 shares of the bank’s stock worth $111,000 after purchasing an additional 2,223 shares during the period. 64.86% of the stock is owned by 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. 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.