Short Interest in First Bank (NASDAQ:FRBA) Grows By 65.5%

First Bank (NASDAQ:FRBA - Get Free Report) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 79,600 shares, a growth of 65.5% from the February 28th total of 48,100 shares. Based on an average trading volume of 55,700 shares, the short-interest ratio is presently 1.4 days. Approximately 0.4% of the shares of the company are short sold.

First Bank Stock Performance

Shares of NASDAQ:FRBA traded up $0.11 during trading on Wednesday, hitting $14.86. 35,371 shares of the stock were exchanged, compared to its average volume of 47,674. The company has a market capitalization of $290.81 million, a price-to-earnings ratio of 8.90 and a beta of 0.76. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.11 and a current ratio of 1.11. First Bank has a 1-year low of $11.20 and a 1-year high of $15.87. The company's fifty day simple moving average is $15.00 and its 200-day simple moving average is $14.70.

First Bank (NASDAQ:FRBA - Get Free Report) last issued its earnings results on Thursday, January 23rd. The bank reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. First Bank had a net margin of 18.41% and a return on equity of 11.06%. Sell-side analysts expect that First Bank will post 1.78 EPS for the current fiscal year.

First Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Friday, February 7th. First Bank's payout ratio is currently 14.37%.

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Hedge Funds Weigh In On First Bank

Institutional investors have recently bought and sold shares of the business. Picton Mahoney Asset Management acquired a new position in First Bank during the 4th quarter worth about $31,000. FNY Investment Advisers LLC bought a new position in shares of First Bank in the fourth quarter worth about $98,000. SG Americas Securities LLC lifted its position in shares of First Bank by 26.7% during the fourth quarter. SG Americas Securities LLC now owns 9,419 shares of the bank's stock worth $133,000 after purchasing an additional 1,982 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of First Bank during the fourth quarter valued at approximately $170,000. Finally, Wells Fargo & Company MN grew its stake in shares of First Bank by 27.6% during the fourth quarter. Wells Fargo & Company MN now owns 12,452 shares of the bank's stock valued at $175,000 after purchasing an additional 2,697 shares during the last quarter. Institutional investors own 64.86% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of First Bank from a "buy" rating to a "hold" rating in a research note on Monday, January 27th.

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.