First Bank (NASDAQ:FRBA) Share Price Passes Above 50 Day Moving Average - Here's What Happened

Key Points

• First Bank's shares recently crossed above their fifty-day moving average of $15.28, reaching a high of $15.94 during trading.
• Analysts have revised their target prices upwards, with DA Davidson setting a new target of $19.00 and giving it a "buy" rating, while Hovde Group set a target of $17.50.
• First Bank announced a quarterly dividend of $0.06 per share, resulting in an annualized dividend of $0.24 and a dividend yield of 1.5%.

First Bank (NASDAQ:FRBA - Get Free Report) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $15.28 and traded as high as $15.94. First Bank shares last traded at $15.93, with a volume of 48,588 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Hovde Group raised their target price on First Bank from $17.00 to $17.50 and gave the company an "outperform" rating in a report on Thursday, April 24th. DA Davidson raised their target price on First Bank from $18.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, July 24th.

First Bank Stock Performance

The company has a fifty day simple moving average of $15.36 and a two-hundred day simple moving average of $14.88. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.75.

First Bank (NASDAQ:FRBA - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.02). The business had revenue of $37.10 million during the quarter, compared to the consensus estimate of $35.09 million. First Bank had a return on equity of 9.51% and a net margin of 16.13%. Analysts anticipate that First Bank will post 1.78 earnings per share for the current fiscal year.

First Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a $0.06 dividend. The ex-dividend date is Friday, August 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.5%. First Bank's payout ratio is presently 15.89%.

Hedge Funds Weigh In On First Bank

Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in First Bank by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 890,493 shares of the bank's stock valued at $12,529,000 after purchasing an additional 23,012 shares in the last quarter. Geode Capital Management LLC boosted its holdings in First Bank by 1.9% during the second quarter. Geode Capital Management LLC now owns 485,358 shares of the bank's stock valued at $7,510,000 after purchasing an additional 9,006 shares in the last quarter. American Century Companies Inc. boosted its holdings in First Bank by 14.2% during the second quarter. American Century Companies Inc. now owns 251,561 shares of the bank's stock valued at $3,892,000 after purchasing an additional 31,370 shares in the last quarter. Royce & Associates LP acquired a new stake in First Bank during the first quarter valued at approximately $3,601,000. Finally, Bridgeway Capital Management LLC boosted its holdings in First Bank by 2.9% during the second quarter. Bridgeway Capital Management LLC now owns 185,522 shares of the bank's stock valued at $2,870,000 after purchasing an additional 5,153 shares in the last quarter. 64.86% of the stock is currently owned by institutional investors.

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.