First Bank (NASDAQ:FRBA) Shares Pass Above Fifty Day Moving Average – Time to Sell?

First Bank (NASDAQ:FRBA)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $15.78 and traded as high as $17.83. First Bank shares last traded at $17.66, with a volume of 70,242 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FRBA. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Bank in a research note on Wednesday, October 8th. Zacks Research upgraded First Bank from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Finally, DA Davidson lowered shares of First Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $18.25.

First Bank Price Performance

The business has a 50 day moving average of $15.78 and a 200 day moving average of $15.76. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.14 and a current ratio of 1.14.

First Bank (NASDAQ:FRBA) last released its quarterly earnings data on Wednesday, October 22nd. The bank reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $37.97 million for the quarter, compared to the consensus estimate of $36.76 million. First Bank had a return on equity of 10.02% and a net margin of 17.27%. Research analysts predict that First Bank will post 1.78 earnings per share for the current year.

First Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 7th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, November 7th. First Bank’s dividend payout ratio is currently 14.46%.

Institutional Investors Weigh In On First Bank

Several large investors have recently added to or reduced their stakes in FRBA. BNP Paribas Financial Markets increased its position in First Bank by 21.7% during the second quarter. BNP Paribas Financial Markets now owns 4,620 shares of the bank’s stock valued at $71,000 after acquiring an additional 825 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of First Bank by 5.6% during the 2nd quarter. First Trust Advisors LP now owns 15,958 shares of the bank’s stock worth $247,000 after purchasing an additional 853 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in First Bank by 7.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,115 shares of the bank’s stock valued at $205,000 after purchasing an additional 953 shares during the last quarter. Goldman Sachs Group Inc. raised its position in First Bank by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 78,677 shares of the bank’s stock worth $1,165,000 after purchasing an additional 964 shares during the period. Finally, Rhumbline Advisers lifted its stake in First Bank by 3.7% in the second quarter. Rhumbline Advisers now owns 30,316 shares of the bank’s stock worth $469,000 after purchasing an additional 1,070 shares during the last quarter. 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.