First Bank (NASDAQ:FRBA) Short Interest Up 27.0% in March

First Bank (NASDAQ:FRBA) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 172,155 shares, a growth of 27.0% from the February 26th total of 135,526 shares. Based on an average trading volume of 71,853 shares, the short-interest ratio is presently 2.4 days. Approximately 0.7% of the shares of the stock are short sold.

First Bank Price Performance

First Bank stock traded up $0.06 on Tuesday, reaching $16.00. The company’s stock had a trading volume of 43,439 shares, compared to its average volume of 66,625. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market cap of $401.60 million, a price-to-earnings ratio of 9.20 and a beta of 0.70. The business’s fifty day moving average price is $16.35 and its 200 day moving average price is $16.23. First Bank has a twelve month low of $12.74 and a twelve month high of $18.11.

First Bank (NASDAQ:FRBA) last announced its earnings results on Monday, January 26th. The bank reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. First Bank had a return on equity of 10.32% and a net margin of 17.76%.The company had revenue of $38.46 million during the quarter, compared to analyst estimates of $37.42 million. Equities analysts expect that First Bank will post 1.78 earnings per share for the current fiscal year.

First Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, February 6th. First Bank’s dividend payout ratio (DPR) is presently 20.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FRBA shares. Weiss Ratings restated a “buy (b)” rating on shares of First Bank in a research note on Monday, December 29th. DA Davidson started coverage on shares of First Bank in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $18.00 price target on the stock. Finally, Zacks Research cut shares of First Bank from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.75.

Institutional Trading of First Bank

Several hedge funds have recently modified their holdings of FRBA. Patriot Financial Partners GP II L.P. bought a new stake in shares of First Bank during the third quarter worth $33,092,000. Vanguard Group Inc. increased its position in First Bank by 1.0% in the third quarter. Vanguard Group Inc. now owns 1,268,542 shares of the bank’s stock worth $20,665,000 after purchasing an additional 12,470 shares during the period. Dimensional Fund Advisors LP raised its holdings in First Bank by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,004,235 shares of the bank’s stock worth $16,530,000 after purchasing an additional 22,722 shares during the last quarter. Wellington Management Group LLP raised its holdings in First Bank by 1.0% during the 4th quarter. Wellington Management Group LLP now owns 616,157 shares of the bank’s stock worth $10,142,000 after purchasing an additional 6,162 shares during the last quarter. Finally, Royce & Associates LP lifted its position in First Bank by 93.0% during the 3rd quarter. Royce & Associates LP now owns 564,089 shares of the bank’s stock valued at $9,189,000 after purchasing an additional 271,825 shares during the period. 64.86% of the stock is owned by institutional investors.

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. 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.