First Bank (NASDAQ:FRBA) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

First Bank (NASDAQ:FRBA) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $16.26 and traded as low as $16.11. First Bank shares last traded at $16.35, with a volume of 83,585 shares changing hands.

Analysts Set New Price Targets

FRBA has been the subject of a number of research analyst reports. Weiss Ratings lowered shares of First Bank from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Piper Sandler decreased their price objective on shares of First Bank from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, May 1st. DA Davidson reiterated a “neutral” rating and set a $17.00 price objective on shares of First Bank in a report on Tuesday, April 28th. Finally, Zacks Research lowered shares of First Bank from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, First Bank presently has an average rating of “Hold” and an average price target of $17.50.

First Bank Stock Down 0.5%

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.61. The firm has a market cap of $410.39 million, a PE ratio of 9.79 and a beta of 0.55. The business’s 50-day simple moving average is $15.90 and its 200 day simple moving average is $16.26.

First Bank (NASDAQ:FRBA) last posted its earnings results on Monday, April 27th. The bank reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.17). The business had revenue of $36.39 million for the quarter, compared to analysts’ expectations of $36.99 million. First Bank had a net margin of 17.02% and a return on equity of 9.69%. As a group, equities research analysts expect that First Bank will post 1.56 earnings per share for the current year.

First Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.36 dividend on an annualized basis and a yield of 2.2%. First Bank’s dividend payout ratio (DPR) is 21.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FRBA. Tower Research Capital LLC TRC increased its position in First Bank by 117.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,654 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,433 shares during the period. New York State Common Retirement Fund grew its position in shares of First Bank by 118.3% in the 3rd quarter. New York State Common Retirement Fund now owns 2,952 shares of the bank’s stock worth $48,000 after buying an additional 1,600 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of First Bank by 21.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,620 shares of the bank’s stock worth $71,000 after buying an additional 825 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of First Bank in the 2nd quarter worth approximately $154,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of First Bank in the 3rd quarter worth approximately $169,000. Hedge funds and other institutional investors own 64.86% of the company’s stock.

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.