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

First Bank (NASDAQ:FRBA) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.24 and traded as low as $14.76. First Bank shares last traded at $14.88, with a volume of 78,082 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Zacks Research cut shares of First Bank from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. DA Davidson reissued a “neutral” rating and issued a $17.00 price objective on shares of First Bank in a research report on Tuesday, April 28th. Finally, 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 research report on Friday, May 1st. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.50.

First Bank Stock Down 1.5%

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day simple moving average is $15.86 and its 200-day simple moving average is $16.24. The stock has a market cap of $373.49 million, a P/E ratio of 8.91 and a beta of 0.54.

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

First Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be paid a $0.09 dividend. The ex-dividend date is Friday, May 8th. This represents a $0.36 annualized dividend and a dividend yield of 2.4%. First Bank’s dividend payout ratio (DPR) is presently 21.56%.

Institutional Investors Weigh In On First Bank

Several large investors have recently made changes to their positions in FRBA. AQR Capital Management LLC acquired a new stake in shares of First Bank in the first quarter valued at approximately $213,000. Goldman Sachs Group Inc. increased its stake in shares of First Bank by 1.2% in the first quarter. Goldman Sachs Group Inc. now owns 78,677 shares of the bank’s stock valued at $1,165,000 after purchasing an additional 964 shares during the period. Empowered Funds LLC increased its stake in shares of First Bank by 7.2% in the first quarter. Empowered Funds LLC now owns 95,139 shares of the bank’s stock valued at $1,409,000 after purchasing an additional 6,415 shares during the period. Jane Street Group LLC acquired a new stake in shares of First Bank in the first quarter valued at approximately $347,000. Finally, Rhumbline Advisers increased its stake in shares of First Bank by 3.7% in the second quarter. Rhumbline Advisers now owns 30,316 shares of the bank’s stock valued at $469,000 after purchasing an additional 1,070 shares during the period. Institutional investors and hedge funds own 64.86% of the company’s stock.

First Bank Company Profile

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.