First Bank (NASDAQ:FRBA) Short Interest Down 5.9% in November

First Bank (NASDAQ:FRBA) was the target of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 38,000 shares, a decrease of 5.9% from the October 31st total of 40,400 shares. Based on an average daily trading volume, of 41,200 shares, the short-interest ratio is currently 0.9 days. Currently, 0.2% of the shares of the company are sold short.

Institutional Investors Weigh In On First Bank

A number of large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of First Bank during the 2nd quarter worth $71,000. SG Americas Securities LLC acquired a new position in First Bank during the third quarter worth about $113,000. Hsbc Holdings PLC acquired a new position in First Bank during the second quarter worth about $162,000. Fourthstone LLC bought a new position in shares of First Bank in the third quarter worth about $199,000. Finally, GSA Capital Partners LLP bought a new stake in shares of First Bank during the 3rd quarter valued at approximately $294,000. 64.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FRBA shares. Piper Sandler reissued an “overweight” rating and set a $17.00 price target (down from $18.00) on shares of First Bank in a report on Wednesday, October 30th. StockNews.com raised First Bank from a “hold” rating to a “buy” rating in a report on Monday, November 25th.

First Bank Stock Performance

Shares of FRBA traded up $0.06 during mid-day trading on Tuesday, hitting $15.05. 4,085 shares of the company’s stock were exchanged, compared to its average volume of 47,603. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.55. First Bank has a 52 week low of $11.20 and a 52 week high of $15.87. The stock’s 50-day simple moving average is $14.76 and its 200-day simple moving average is $14.07. The firm has a market cap of $294.53 million, a price-to-earnings ratio of 9.56 and a beta of 0.94.

First Bank (NASDAQ:FRBA) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). The company had revenue of $58.64 million for the quarter, compared to the consensus estimate of $32.96 million. First Bank had a return on equity of 11.80% and a net margin of 18.19%. During the same quarter last year, the business earned $0.42 EPS. On average, equities research analysts expect that First Bank will post 1.65 EPS for the current year.

First Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.24 annualized dividend and a yield of 1.59%. First Bank’s dividend payout ratio is 15.09%.

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.