First Bank (NASDAQ:FRBA) Stock Price Passes Below Fifty Day Moving Average – Here’s Why

First Bank (NASDAQ:FRBA)’s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $15.86 and traded as low as $15.49. First Bank shares last traded at $15.70, with a volume of 59,949 shares.

Analysts Set New Price Targets

Several equities analysts recently commented on FRBA shares. Zacks Research lowered First Bank from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. Piper Sandler cut their target price on First Bank from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $17.00 target price on shares of First Bank in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.50.

First Bank Stock Performance

The stock has a market capitalization of $394.07 million, a P/E ratio of 9.40 and a beta of 0.54. The stock has a 50 day moving average of $15.86 and a 200 day moving average of $16.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.11 and a current ratio of 1.11.

First Bank (NASDAQ:FRBA) last issued its quarterly earnings data on Monday, April 27th. The bank reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.17). First Bank had a return on equity of 9.69% and a net margin of 17.02%.The company had revenue of $36.39 million for the quarter, compared to the consensus estimate of $36.99 million. Equities analysts predict that First Bank will post 1.56 EPS for the current year.

First Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a $0.09 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.36 annualized dividend and a dividend yield of 2.3%. First Bank’s dividend payout ratio is 21.56%.

Institutional Trading of First Bank

Several institutional investors have recently modified their holdings of FRBA. Patriot Financial Partners GP II L.P. acquired a new position in First Bank during the third quarter valued at $33,092,000. Vanguard Group Inc. raised its position in First Bank by 1.0% during the third quarter. Vanguard Group Inc. now owns 1,268,542 shares of the bank’s stock valued at $20,665,000 after buying an additional 12,470 shares during the period. Dimensional Fund Advisors LP raised its position in First Bank by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,032,116 shares of the bank’s stock valued at $16,514,000 after buying an additional 27,881 shares during the period. Wellington Management Group LLP raised its position in First Bank by 1.0% during the fourth quarter. Wellington Management Group LLP now owns 616,157 shares of the bank’s stock valued at $10,142,000 after buying an additional 6,162 shares during the period. Finally, Royce & Associates LP raised its position in First Bank by 93.0% during the third quarter. Royce & Associates LP now owns 564,089 shares of the bank’s stock valued at $9,189,000 after buying an additional 271,825 shares during the period. Institutional investors and hedge funds own 64.86% of the company’s stock.

First Bank Company Profile

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.