First Bank (NASDAQ:FRBA) Short Interest Down 6.5% in December

First Bank (NASDAQ:FRBA) saw a significant decline in short interest during 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. Based on an average daily trading volume, of 44,400 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.2% of the shares of the company are sold short.

First Bank Stock Performance

First Bank stock traded up $0.13 during trading hours on Monday, hitting $13.82. The stock had a trading volume of 38,039 shares, compared to its average volume of 53,559. The company has a 50-day moving average of $14.33 and a two-hundred day moving average of $14.55. 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 fifty-two week low of $11.20 and a fifty-two week high of $15.87. The company has a market cap of $270.46 million, a PE ratio of 8.69 and a beta of 0.95.

First Bank (NASDAQ:FRBA) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). First Bank had a net margin of 18.19% and a return on equity of 11.80%. The firm had revenue of $58.64 million during the quarter, compared to analyst estimates of $32.96 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, equities research analysts anticipate that First Bank will post 1.65 EPS for the current fiscal year.

First Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Friday, November 8th. First Bank’s payout ratio is 15.09%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $17.00 target price (down previously from $18.00) on shares of First Bank in a research report on Wednesday, October 30th. StockNews.com upgraded shares of First Bank from a “hold” rating to a “buy” rating in a report on Sunday, December 29th.

Institutional Trading of First Bank

Several institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in First Bank by 24.0% during the third quarter. Wellington Management Group LLP now owns 835,748 shares of the bank’s stock worth $12,703,000 after purchasing an additional 161,761 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of First Bank by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 834,690 shares of the bank’s stock worth $10,633,000 after buying an additional 38,256 shares in the last quarter. Geode Capital Management LLC boosted its stake in First Bank by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 469,214 shares of the bank’s stock valued at $7,133,000 after buying an additional 5,105 shares in the last quarter. State Street Corp boosted its stake in First Bank by 6.2% in the 3rd quarter. State Street Corp now owns 384,047 shares of the bank’s stock valued at $5,838,000 after buying an additional 22,452 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in First Bank in the third quarter valued at $3,872,000. 64.86% of the stock is currently owned by institutional investors and hedge funds.

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.