Short Interest in First Bank (NASDAQ:FRBA) Decreases By 6.5%

First Bank (NASDAQ:FRBA) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 42,000 shares, a decline of 6.5% from the December 15th total of 44,900 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 44,400 shares, the days-to-cover ratio is presently 0.9 days.

Analysts Set New Price Targets

FRBA has been the topic of a number of analyst reports. StockNews.com raised shares of First Bank from a “hold” rating to a “buy” rating in a report on Sunday, December 29th. Piper Sandler reaffirmed an “overweight” rating and set a $17.00 price target (down previously from $18.00) on shares of First Bank in a report on Wednesday, October 30th.

First Bank Stock Performance

Shares of FRBA traded up $0.13 during trading hours on Friday, reaching $13.82. 38,039 shares of the company’s stock traded hands, compared to its average volume of 53,559. The firm has a market capitalization of $270.46 million, a price-to-earnings ratio of 8.69 and a beta of 0.95. The business’s fifty day simple moving average is $14.33 and its two-hundred day simple moving average is $14.53. First Bank has a twelve month low of $11.20 and a twelve month high of $15.87. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.08 and a quick ratio of 1.08.

First Bank (NASDAQ:FRBA) last released its earnings results on Wednesday, October 23rd. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.06). The company had revenue of $58.64 million for the quarter, compared to analyst estimates of $32.96 million. First Bank had a net margin of 18.19% and a return on equity of 11.80%. During the same period in the previous year, the business posted $0.42 EPS. Analysts predict that First Bank will post 1.65 earnings per share for the current year.

First Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Friday, November 8th. First Bank’s dividend payout ratio (DPR) is presently 15.09%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of First Bank by 26.7% during the 4th quarter. SG Americas Securities LLC now owns 9,419 shares of the bank’s stock valued at $133,000 after purchasing an additional 1,982 shares in the last quarter. IAM Advisory LLC boosted its holdings in shares of First Bank by 0.4% in the fourth quarter. IAM Advisory LLC now owns 188,198 shares of the bank’s stock worth $2,648,000 after buying an additional 768 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of First Bank in the fourth quarter worth approximately $98,000. JPMorgan Chase & Co. raised its holdings in shares of First Bank by 217.7% during the third quarter. JPMorgan Chase & Co. now owns 36,112 shares of the bank’s stock valued at $549,000 after acquiring an additional 24,746 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of First Bank in the 3rd quarter valued at approximately $3,872,000. 64.86% of the stock is owned by institutional investors and hedge funds.

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.