First Bank (NASDAQ:FRBA) Short Interest Update

First Bank (NASDAQ:FRBA) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 172,155 shares, a growth of 27.0% from the February 26th total of 135,526 shares. Based on an average daily volume of 71,853 shares, the short-interest ratio is currently 2.4 days. Currently, 0.7% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new position in First Bank during the 1st quarter worth $213,000. Goldman Sachs Group Inc. increased its stake in shares of First Bank by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 78,677 shares of the bank’s stock valued at $1,165,000 after buying an additional 964 shares during the period. Empowered Funds LLC raised its position in shares of First Bank by 7.2% during the first quarter. Empowered Funds LLC now owns 95,139 shares of the bank’s stock worth $1,409,000 after acquiring an additional 6,415 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of First Bank during the first quarter valued at $347,000. Finally, Geode Capital Management LLC lifted its stake in shares of First Bank by 1.9% during the second quarter. Geode Capital Management LLC now owns 485,358 shares of the bank’s stock valued at $7,510,000 after acquiring an additional 9,006 shares during the period. Institutional investors own 64.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. DA Davidson initiated coverage on shares of First Bank in a report on Wednesday, February 25th. They set a “neutral” rating and a $18.00 price objective for the company. Zacks Research downgraded First Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of First Bank in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, First Bank currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

First Bank Stock Performance

First Bank stock opened at $16.00 on Wednesday. The stock has a 50-day simple moving average of $16.34 and a 200 day simple moving average of $16.22. The stock has a market capitalization of $401.60 million, a price-to-earnings ratio of 9.20 and a beta of 0.70. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. First Bank has a 12-month low of $12.74 and a 12-month high of $18.11.

First Bank (NASDAQ:FRBA) last issued its quarterly earnings data on Monday, January 26th. The bank reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. The firm had revenue of $38.46 million for the quarter, compared to analyst estimates of $37.42 million. First Bank had a net margin of 17.76% and a return on equity of 10.32%. On average, research analysts anticipate that First Bank will post 1.78 earnings per share for the current fiscal year.

First Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, February 6th. First Bank’s dividend payout ratio is 20.69%.

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.