First Bank (NASDAQ:FRBA) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

First Bank (NASDAQ:FRBA) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.34 and traded as low as $15.10. First Bank shares last traded at $15.19, with a volume of 77,159 shares traded.

Analysts Set New Price Targets

A number of research firms have weighed in on FRBA. Weiss Ratings reiterated a “buy (b)” rating on shares of First Bank in a research report on Monday, December 29th. DA Davidson initiated coverage on shares of First Bank in a research note on Wednesday, February 25th. They set a “neutral” rating and a $18.00 price target for the company. Finally, Zacks Research downgraded shares of First Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.75.

First Bank Price Performance

The firm’s 50-day moving average price is $16.63 and its two-hundred day moving average price is $16.34. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 1.14.

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

First Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were issued a $0.09 dividend. The ex-dividend date was Friday, February 6th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.4%. First Bank’s dividend payout ratio (DPR) is currently 20.69%.

Institutional Investors Weigh In On First Bank

A number of hedge funds have recently made changes to their positions in the stock. Patriot Financial Partners GP II L.P. bought a new stake in First Bank during the third quarter valued at about $33,092,000. Royce & Associates LP raised its holdings in First Bank by 93.0% in the third quarter. Royce & Associates LP now owns 564,089 shares of the bank’s stock worth $9,189,000 after purchasing an additional 271,825 shares in the last quarter. Osaic Holdings Inc. raised its holdings in First Bank by 4,782.0% in the second quarter. Osaic Holdings Inc. now owns 199,236 shares of the bank’s stock worth $3,082,000 after purchasing an additional 195,155 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of First Bank during the fourth quarter valued at about $1,685,000. Finally, Russell Investments Group Ltd. lifted its position in shares of First Bank by 49.0% during the third quarter. Russell Investments Group Ltd. now owns 144,120 shares of the bank’s stock valued at $2,348,000 after buying an additional 47,397 shares during the last quarter. 64.86% of the stock is currently owned by hedge funds and other 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.