First Bank (NASDAQ:FRBA) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

First Bank (NASDAQ:FRBA) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $16.26 and traded as low as $16.11. First Bank shares last traded at $16.35, with a volume of 83,585 shares traded.

Wall Street Analyst Weigh In

FRBA has been the subject of a number of research reports. Piper Sandler dropped their price target on First Bank from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Weiss Ratings lowered First Bank from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Zacks Research downgraded First Bank from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. Finally, DA Davidson reaffirmed a “neutral” rating and set a $17.00 price objective on shares of First Bank in a report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, First Bank presently has an average rating of “Hold” and a consensus target price of $17.50.

First Bank Stock Down 0.5%

The company’s fifty day moving average price is $15.90 and its 200-day moving average price is $16.26. The stock has a market cap of $410.39 million, a P/E ratio of 9.79 and a beta of 0.55. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.11 and a current ratio of 1.11.

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

First Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, May 8th. First Bank’s dividend payout ratio (DPR) is 21.56%.

Institutional Investors Weigh In On First Bank

Several institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC lifted its holdings in First Bank by 1.2% during the 4th quarter. Hsbc Holdings PLC now owns 59,958 shares of the bank’s stock valued at $984,000 after buying an additional 740 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in First Bank by 21.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,620 shares of the bank’s stock valued at $71,000 after buying an additional 825 shares in the last quarter. First Trust Advisors LP lifted its holdings in First Bank by 5.6% during the 2nd quarter. First Trust Advisors LP now owns 15,958 shares of the bank’s stock valued at $247,000 after buying an additional 853 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in First Bank by 7.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,115 shares of the bank’s stock valued at $205,000 after buying an additional 953 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in First Bank by 1.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 78,677 shares of the bank’s stock valued at $1,165,000 after buying an additional 964 shares in the last quarter. Institutional investors own 64.86% of the company’s stock.

About First Bank

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.