Short Interest in First National Bank Alaska (OTCMKTS:FBAK) Drops By 36.7%

First National Bank Alaska (OTCMKTS:FBAK) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 88 shares, a drop of 36.7% from the July 15th total of 139 shares. Based on an average daily trading volume, of 353 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the shares of the company are short sold.

First National Bank Alaska Price Performance

Shares of OTCMKTS:FBAK traded down $4.00 during midday trading on Tuesday, hitting $330.00. 178 shares of the stock were exchanged, compared to its average volume of 288. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $322.13 and a 200-day moving average price of $318.58. The stock has a market cap of $1.05 billion, a P/E ratio of 12.53 and a beta of 0.26. First National Bank Alaska has a twelve month low of $257.01 and a twelve month high of $343.00.

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

Institutional Trading of First National Bank Alaska

A hedge fund recently bought a new stake in First National Bank Alaska stock. Kahn Brothers Group Inc. purchased a new position in First National Bank Alaska (OTCMKTS:FBAK) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,920 shares of the financial services provider’s stock, valued at approximately $1,556,000. Kahn Brothers Group Inc. owned about 0.16% of First National Bank Alaska at the end of the most recent reporting period.

About First National Bank Alaska

First National Bank Alaska is a community?oriented financial institution headquartered in Anchorage, Alaska. Established in 1922, the bank has grown to serve individuals, businesses and institutions across Alaska through a network of branch offices and digital channels. As an OTC?traded company, it offers broad commercial and consumer banking services tailored to the unique economic and geographic needs of the state.

The bank’s consumer banking operations include checking and savings accounts, personal loans, mortgages and online banking solutions.