First Bank (NASDAQ:FRBA) Short Interest Update

First Bank (NASDAQ:FRBA) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 79,600 shares, an increase of 65.5% from the February 28th total of 48,100 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average trading volume of 55,700 shares, the days-to-cover ratio is currently 1.4 days.

First Bank Stock Performance

FRBA traded up $0.11 on Monday, reaching $14.78. The company had a trading volume of 32,841 shares, compared to its average volume of 47,660. First Bank has a 1 year low of $11.20 and a 1 year high of $15.87. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $289.24 million, a PE ratio of 8.85 and a beta of 0.94. The stock has a 50-day moving average price of $14.94 and a 200-day moving average price of $14.70.

First Bank (NASDAQ:FRBA) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. First Bank had a net margin of 18.41% and a return on equity of 11.06%. As a group, research analysts forecast that First Bank will post 1.78 EPS for the current fiscal year.

First Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.62%. First Bank’s dividend payout ratio (DPR) is presently 14.37%.

Institutional Investors Weigh In On First Bank

Hedge funds and other institutional investors have recently bought and sold shares of the business. Picton Mahoney Asset Management purchased a new position in First Bank in the 4th quarter valued at approximately $31,000. FNY Investment Advisers LLC purchased a new stake in shares of First Bank in the 4th quarter worth about $98,000. SG Americas Securities LLC boosted its position in shares of First Bank by 26.7% in the 4th quarter. SG Americas Securities LLC now owns 9,419 shares of the bank’s stock worth $133,000 after buying an additional 1,982 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in First Bank in the 4th quarter valued at about $170,000. Finally, Wells Fargo & Company MN increased its holdings in First Bank by 27.6% during the 4th quarter. Wells Fargo & Company MN now owns 12,452 shares of the bank’s stock valued at $175,000 after acquiring an additional 2,697 shares in the last quarter. Institutional investors and hedge funds own 64.86% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut First Bank from a “buy” rating to a “hold” rating in a research note on Monday, January 27th.

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.