First National Bank Alaska (OTCMKTS:FBAK) Shares Gap Down – Here’s Why

First National Bank Alaska (OTCMKTS:FBAK)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $337.7525, but opened at $285.00. First National Bank Alaska shares last traded at $332.60, with a volume of 5 shares.

First National Bank Alaska Trading Down 1.1%

The stock has a market cap of $1.06 billion, a P/E ratio of 12.69 and a beta of 0.26. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $325.09 and a two-hundred day moving average price of $320.69.

First National Bank Alaska (OTCMKTS:FBAK) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $6.58 earnings per share (EPS) for the quarter. The company had revenue of $57.69 million during the quarter. First National Bank Alaska had a return on equity of 14.65% and a net margin of 30.38%.

Hedge Funds Weigh In On First National Bank Alaska

A hedge fund recently bought a new stake in First National Bank Alaska stock. Kahn Brothers Group Inc. bought a new stake in shares of First National Bank Alaska (OTCMKTS:FBAK) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,920 shares of the financial services provider’s stock, valued at approximately $1,556,000. Kahn Brothers Group Inc. owned 0.16% of First National Bank Alaska at the end of the most recent quarter.

About First National Bank Alaska

First National Bank Alaska is a community‐oriented financial institution headquartered in Anchorage, Alaska. Established in 1922, the bank has grown to serve individuals, businesses and institutions across Alaska through a network of branch offices and digital channels. As an OTC‐traded company, it offers broad commercial and consumer banking services tailored to the unique economic and geographic needs of the state.

The bank’s consumer banking operations include checking and savings accounts, personal loans, mortgages and online banking solutions.