First National Bank Alaska (OTCMKTS:FBAK) Stock Short Interest Rises 6,300.0%

Key Points

• Short interest surged 6,300% to 64 shares as of October 15, up from one share on September 30, though this represents 0.0% of outstanding shares and only 0.1 days of average trading volume.
• Kahn Brothers Group acquired 4,920 shares worth approximately $1.56 million, giving it a 0.16% stake in First National Bank Alaska.
• The stock recently traded at $325, near its 52-week high of $343, while the bank reported quarterly EPS of $6.58, revenue of $57.69 million, a 30.38% net margin, and a 14.65% return on equity.

First National Bank Alaska (OTCMKTS:FBAK - Get Free Report) saw a large growth in short interest in October. As of October 15th, there was short interest totaling 64 shares, a growth of 6,300.0% from the September 30th total of 1 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 757 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On First National Bank Alaska

A hedge fund recently bought a new stake in First National Bank Alaska stock. Kahn Brothers Group Inc. acquired a new stake in shares of First National Bank Alaska (OTCMKTS:FBAK - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 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 as of its most recent filing with the SEC.

First National Bank Alaska Stock Performance

OTCMKTS FBAK traded down $6.00 during trading hours on Monday, reaching $325.00. The stock had a trading volume of 326 shares, compared to its average volume of 265. First National Bank Alaska has a 52-week low of $268.00 and a 52-week high of $343.00. The stock has a fifty day moving average of $329.26 and a 200 day moving average of $326.61. The stock has a market cap of $1.03 billion, a P/E ratio of 12.34 and a beta of 0.26.

First National Bank Alaska (OTCMKTS:FBAK - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $6.58 EPS for the quarter. First National Bank Alaska had a net margin of 30.38% and a return on equity of 14.65%. The business had revenue of $57.69 million during the quarter.

About First National Bank Alaska

First National Bank Alaska OTCMKTS: FBAK is an Alaska-based commercial bank headquartered in Anchorage. Founded in 1922, the bank provides financial services to individuals, businesses, nonprofit organizations and government entities throughout the state.

The bank offers deposit accounts, consumer and mortgage lending, commercial and real estate financing, cash-management services, online and mobile banking, and other traditional banking products. Its business banking activities include credit facilities and treasury services designed to support Alaska companies across a range of industries.

First National Bank Alaska serves customers through a statewide branch network and electronic banking channels.

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