First Bank (NASDAQ:FRBA) Shares Cross Above 50 Day Moving Average – What’s Next?

First Bank (NASDAQ:FRBA) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $15.92 and traded as high as $16.91. First Bank shares last traded at $16.82, with a volume of 69,433 shares.

Analyst Ratings Changes

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

First Bank Stock Up 2.6%

The stock has a fifty day moving average price of $15.92 and a two-hundred day moving average price of $16.30. The company has a market cap of $422.18 million, a price-to-earnings ratio of 10.07 and a beta of 0.55. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.57.

First Bank (NASDAQ:FRBA) last released its quarterly earnings results on Monday, April 27th. The bank reported $0.30 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.17). First Bank had a net margin of 17.02% and a return on equity of 9.60%. The business had revenue of $36.39 million during the quarter, compared to analyst estimates of $36.98 million. As a group, sell-side analysts expect that First Bank will post 1.56 EPS for the current year.

First Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a $0.09 dividend. 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 2.1%. First Bank’s payout ratio is currently 21.56%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FRBA. Patriot Financial Partners GP II L.P. acquired a new stake in shares of First Bank in the third quarter valued at approximately $33,092,000. Vanguard Group Inc. increased its stake in First Bank by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,268,542 shares of the bank’s stock worth $20,665,000 after acquiring an additional 12,470 shares during the period. Dimensional Fund Advisors LP increased its stake in First Bank by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,032,116 shares of the bank’s stock worth $16,514,000 after acquiring an additional 27,881 shares during the period. Wellington Management Group LLP increased its stake in First Bank by 1.0% during the 4th quarter. Wellington Management Group LLP now owns 616,157 shares of the bank’s stock worth $10,142,000 after acquiring an additional 6,162 shares during the period. Finally, Royce & Associates LP raised its holdings in First Bank by 93.0% in the 3rd quarter. Royce & Associates LP now owns 564,089 shares of the bank’s stock valued at $9,189,000 after acquiring an additional 271,825 shares in 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. 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.