Short Interest in First National Bank Alaska (OTCMKTS:FBAK) Grows By 83.0%

First National Bank Alaska (OTCMKTS:FBAK) was the target of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 161 shares, an increase of 83.0% from the July 30th total of 88 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 257 shares, the days-to-cover ratio is currently 0.6 days.

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. bought a new position in shares of First National Bank Alaska (OTCMKTS:FBAK) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 Securities and Exchange Commission (SEC).

First National Bank Alaska Price Performance

Shares of OTCMKTS FBAK traded up $1.14 during mid-day trading on Friday, reaching $337.75. The company’s stock had a trading volume of 94 shares, compared to its average volume of 189. The firm has a market capitalization of $1.07 billion, a PE ratio of 12.82 and a beta of 0.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.67 and a quick ratio of 0.66. The stock has a fifty day moving average of $324.80 and a two-hundred day moving average of $320.40. First National Bank Alaska has a 52 week low of $257.01 and a 52 week high of $343.00.

First National Bank Alaska (OTCMKTS:FBAK) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $6.58 earnings per share (EPS) for the quarter. First National Bank Alaska had a return on equity of 14.65% and a net margin of 30.38%.The company had revenue of $57.69 million for the quarter.

About First National Bank Alaska

First National Bank Alaska is a community‐oriented financial institution headquartered in Anchorage, Alaska. Established in 1922, the bank has grown to serve individuals, businesses and institutions across Alaska through a network of branch offices and digital channels. As an OTC‐traded company, it offers broad commercial and consumer banking services tailored to the unique economic and geographic needs of the state.

The bank’s consumer banking operations include checking and savings accounts, personal loans, mortgages and online banking solutions.