First Bank (NASDAQ:FRBA) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

First Bank (NASDAQ:FRBA) issued its earnings results on Wednesday. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07, Zacks reports. The firm had revenue of $56.25 million for the quarter, compared to analysts’ expectations of $31.95 million. First Bank had a net margin of 14.48% and a return on equity of 12.55%. During the same quarter last year, the company earned $0.36 earnings per share.

First Bank Stock Performance

Shares of First Bank stock opened at $15.30 on Friday. The firm has a market capitalization of $299.42 million, a P/E ratio of 13.54 and a beta of 0.95. First Bank has a 52 week low of $10.51 and a 52 week high of $15.41. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $12.68 and its two-hundred day moving average is $12.97.

First Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.24 annualized dividend and a yield of 1.57%. First Bank’s dividend payout ratio is currently 21.24%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. StockNews.com cut shares of First Bank from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Piper Sandler dropped their price target on shares of First Bank from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th.

First Bank Company Profile

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.