First National Bank Alaska (OTCMKTS:FBAK) Sees Large Decrease in Short Interest

First National Bank Alaska (OTCMKTS:FBAK) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 1 shares, a decrease of 85.7% from the September 15th total of 7 shares. Based on an average daily trading volume, of 285 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company’s shares are sold short.

Hedge Funds Weigh In On First National Bank Alaska

An institutional investor recently bought a new stake in First National Bank Alaska stock. Kahn Brothers Group Inc. bought a new position in shares of First National Bank Alaska (OTCMKTS:FBAK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

First National Bank Alaska Stock Up 1.2%

FBAK opened at $326.60 on Friday. The business has a fifty day moving average of $330.67 and a 200 day moving average of $324.63. First National Bank Alaska has a 52-week low of $257.01 and a 52-week high of $343.00. The stock has a market cap of $1.04 billion, a P/E ratio of 12.40 and a beta of 0.26.

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

About First National Bank Alaska

First National Bank Alaska is a community bank headquartered in Anchorage, Alaska. Founded in 1922, the bank serves individuals, businesses, nonprofit organizations and government entities throughout the state and is one of Alaska’s longstanding locally owned financial institutions.

The bank provides a range of personal and commercial banking services, including checking and savings accounts, certificates of deposit, consumer and business loans, residential and commercial real estate financing, and credit products.