Short Interest in First National Bank Alaska (OTCMKTS:FBAK) Decreases By 89.4%

First National Bank Alaska (OTCMKTS:FBAK) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totaling 17 shares, a decline of 89.4% from the August 15th total of 161 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 320 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors 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 position in First National Bank Alaska (OTCMKTS:FBAK) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,920 shares of the financial services provider’s stock, valued at approximately $1,556,000. Kahn Brothers Group Inc. owned 0.16% of First National Bank Alaska at the end of the most recent quarter.

First National Bank Alaska Stock Performance

Shares of FBAK traded up $6.17 during trading hours on Thursday, hitting $320.00. The stock had a trading volume of 199 shares, compared to its average volume of 274. The firm has a 50-day moving average price of $326.85 and a 200 day moving average price of $321.90. First National Bank Alaska has a fifty-two week low of $257.01 and a fifty-two week high of $343.00. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 12.15 and a beta of 0.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.66 and a current ratio of 0.67.

First National Bank Alaska (OTCMKTS:FBAK) last released its quarterly earnings results 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 company had revenue of $57.69 million for the quarter.

First National Bank Alaska Company Profile

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.