First Bank (NASDAQ:FRBA) Share Price Crosses Above 50-Day Moving Average – What’s Next?

First Bank (NASDAQ:FRBA)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $16.08 and traded as high as $17.47. First Bank shares last traded at $17.21, with a volume of 157,802 shares traded.

Analyst Ratings Changes

A number of analysts recently weighed in on FRBA shares. Zacks Research upgraded shares of First Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. DA Davidson reiterated a “neutral” rating and issued a $17.00 target price on shares of First Bank in a report on Tuesday, April 28th. Weiss Ratings upgraded shares of First Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Finally, Piper Sandler lifted their price target on shares of First Bank from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, First Bank presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

First Bank Stock Down 1.5%

The company has a market capitalization of $431.97 million, a P/E ratio of 10.31 and a beta of 0.53. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $16.08 and a 200-day simple moving average of $16.35.

First Bank (NASDAQ:FRBA) last released its quarterly earnings data on Monday, April 27th. The bank reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.17). First Bank had a net margin of 17.02% and a return on equity of 9.60%. The business had revenue of $36.39 million for the quarter, compared to the consensus estimate of $36.98 million. On average, equities research analysts expect that First Bank will post 1.56 EPS for the current fiscal year.

First Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, May 8th. First Bank’s dividend payout ratio (DPR) is 21.56%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Patriot Financial Partners GP II L.P. bought a new stake in shares of First Bank during the third quarter worth $33,092,000. Segall Bryant & Hamill LLC bought a new stake in First Bank in the 4th quarter valued at $1,685,000. Russell Investments Group Ltd. lifted its position in First Bank by 49.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 144,120 shares of the bank’s stock valued at $2,348,000 after acquiring an additional 47,397 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in First Bank in the 3rd quarter worth $569,000. Finally, Goldman Sachs Group Inc. boosted its stake in First Bank by 46.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 103,755 shares of the bank’s stock worth $1,708,000 after purchasing an additional 32,712 shares during the period. Institutional investors and hedge funds own 64.86% of the company’s stock.

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.