First National Bank Alaska (OTCMKTS:FBAK) Shares Gap Down – Here’s Why

Shares of First National Bank Alaska (OTCMKTS:FBAK) gapped down prior to trading on Tuesday . The stock had previously closed at $337.7525, but opened at $285.00. First National Bank Alaska shares last traded at $332.60, with a volume of 5 shares changing hands.

First National Bank Alaska Price Performance

The company has a market cap of $1.06 billion, a P/E ratio of 12.69 and a beta of 0.26. The firm’s 50-day moving average is $325.09 and its two-hundred day moving average is $320.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.67 and a quick ratio of 0.66.

First National Bank Alaska (OTCMKTS:FBAK) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $6.58 EPS for the quarter. First National Bank Alaska had a net margin of 30.38% and a return on equity of 14.65%. The business had revenue of $57.69 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in First National Bank Alaska stock. Kahn Brothers Group Inc. acquired a new position in shares of First National Bank Alaska (OTCMKTS:FBAK) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,920 shares of the financial services provider’s stock, valued at approximately $1,556,000. Kahn Brothers Group Inc. owned about 0.16% of First National Bank Alaska at the end of the most recent reporting period.

About First National Bank Alaska

First National Bank Alaska is a community‐oriented financial institution headquartered in Anchorage, Alaska. Established in 1922, the bank has grown to serve individuals, businesses and institutions across Alaska through a network of branch offices and digital channels. As an OTC‐traded company, it offers broad commercial and consumer banking services tailored to the unique economic and geographic needs of the state.

The bank’s consumer banking operations include checking and savings accounts, personal loans, mortgages and online banking solutions.