First Bank (NASDAQ:FRBA) Stock Passes Below 200-Day Moving Average – What’s Next?
by Danessa Lincoln · The Markets DailyFirst Bank (NASDAQ:FRBA – Get Free Report)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.34 and traded as low as $15.10. First Bank shares last traded at $15.19, with a volume of 77,159 shares changing hands.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of First Bank in a research report on Monday, December 29th. Zacks Research downgraded First Bank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Finally, DA Davidson began coverage on First Bank in a report on Wednesday, February 25th. They issued a “neutral” rating and a $18.00 price target on the stock. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, First Bank has an average rating of “Moderate Buy” and a consensus price target of $17.75.
Check Out Our Latest Analysis on First Bank
First Bank Trading Down 0.4%
The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. The company’s fifty day moving average is $16.58 and its two-hundred day moving average is $16.32.
First Bank (NASDAQ:FRBA – Get Free Report) last issued its earnings results on Monday, January 26th. The bank reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. First Bank had a net margin of 17.76% and a return on equity of 10.32%. The company had revenue of $38.46 million during the quarter, compared to analysts’ expectations of $37.42 million. Research analysts predict that First Bank will post 1.78 EPS for the current fiscal year.
First Bank Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, February 6th. This represents a $0.36 dividend on an annualized basis and a yield of 2.4%. First Bank’s dividend payout ratio (DPR) is 20.69%.
Institutional Trading of First Bank
A number of institutional investors and hedge funds have recently modified their holdings of FRBA. Empowered Funds LLC raised its position in shares of First Bank by 10.6% in the 4th quarter. Empowered Funds LLC now owns 120,076 shares of the bank’s stock valued at $1,976,000 after acquiring an additional 11,554 shares during the period. Wellington Management Group LLP grew its holdings 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 purchasing an additional 6,162 shares during the period. Occudo Quantitative Strategies LP bought a new stake in First Bank in the fourth quarter valued at approximately $183,000. Millennium Management LLC increased its stake in First Bank by 93.8% in the fourth quarter. Millennium Management LLC now owns 56,820 shares of the bank’s stock valued at $935,000 after purchasing an additional 27,497 shares in the last quarter. Finally, Man Group plc raised its holdings in First Bank by 25.4% in the fourth quarter. Man Group plc now owns 48,490 shares of the bank’s stock worth $798,000 after purchasing an additional 9,822 shares during the period. 64.86% of the stock is owned by institutional investors.
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.