Short Interest in First Bank (NASDAQ:FRBA) Increases By 12.6%

First Bank (NASDAQ:FRBAGet Free Report) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 174,700 shares, an increase of 12.6% from the February 29th total of 155,200 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 56,500 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Investors Weigh In On First Bank

Several hedge funds and other institutional investors have recently bought and sold shares of the business. PL Capital Advisors LLC acquired a new position in shares of First Bank in the 3rd quarter worth approximately $5,984,000. BlackRock Inc. grew its position in shares of First Bank by 30.4% in the 1st quarter. BlackRock Inc. now owns 1,206,792 shares of the bank’s stock worth $12,189,000 after acquiring an additional 281,640 shares in the last quarter. Vanguard Group Inc. grew its position in shares of First Bank by 28.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,193,221 shares of the bank’s stock worth $12,863,000 after acquiring an additional 262,277 shares in the last quarter. Wellington Management Group LLP grew its position in shares of First Bank by 740.5% in the 1st quarter. Wellington Management Group LLP now owns 289,007 shares of the bank’s stock worth $4,110,000 after acquiring an additional 254,620 shares in the last quarter. Finally, BlackBarn Capital Partners LP acquired a new position in shares of First Bank in the 4th quarter worth approximately $1,764,000. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

First Bank Price Performance

FRBA stock opened at $13.09 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.52. First Bank has a 52-week low of $8.59 and a 52-week high of $15.17. The stock’s 50 day moving average is $13.44 and its two-hundred day moving average is $12.87. The company has a market capitalization of $256.17 million, a PE ratio of 13.22 and a beta of 0.87.

First Bank (NASDAQ:FRBAGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.12. First Bank had a return on equity of 11.69% and a net margin of 12.06%. The company had revenue of $28.00 million for the quarter, compared to the consensus estimate of $30.95 million. Analysts predict that First Bank will post 1.77 earnings per share for the current fiscal year.

First Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.24 annualized dividend and a yield of 1.83%. First Bank’s dividend payout ratio is presently 24.24%.

First Bank Company Profile

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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.

Further Reading

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