First National Bank Alaska (OTCMKTS:FBAK) Sees Strong Trading Volume - Should You Buy?

Key Points

• Trading volume rose 36% to 357 shares, while First National Bank Alaska stock increased to $336 from a prior close of $334.
• The bank reported quarterly EPS of $6.58 on revenue of $57.69 million, with a 30.38% net margin and 14.65% return on equity.
• Kahn Brothers Group acquired 4,920 shares worth approximately $1.56 million, representing about 0.16% of the company.

First National Bank Alaska (OTCMKTS:FBAK - Get Free Report) shares saw strong trading volume on Monday. 357 shares changed hands during trading, an increase of 36% from the average daily volume of 263 shares. The stock last traded at $336.00 and had previously closed at $334.00.

First National Bank Alaska Price Performance

The company's 50 day moving average is $328.77 and its two-hundred day moving average is $320.68. The firm has a market cap of $1.07 billion, a P/E ratio of 12.79 and a beta of 0.26.

First National Bank Alaska (OTCMKTS:FBAK - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $6.58 earnings per share (EPS) 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%.

Hedge Funds Weigh In On First National Bank Alaska

An institutional investor recently bought a new position in First National Bank Alaska stock. Kahn Brothers Group Inc. purchased a new stake in First National Bank Alaska (OTCMKTS:FBAK - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and 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 approximately 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 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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