First Bank Announces Quarterly Dividend of $0.06 (NASDAQ:FRBA)

First Bank (NASDAQ:FRBA) announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Shareholders of record on Friday, November 8th will be given a dividend of 0.06 per share by the bank on Friday, November 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Friday, November 8th.

First Bank has increased its dividend payment by an average of 26.0% per year over the last three years. First Bank has a payout ratio of 14.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Bank to earn $1.73 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 13.9%.

First Bank Price Performance

First Bank stock opened at $14.23 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50 day simple moving average of $15.04 and a 200-day simple moving average of $13.60. First Bank has a 12 month low of $10.51 and a 12 month high of $15.87. The stock has a market capitalization of $278.47 million, a PE ratio of 12.59 and a beta of 0.93.

First Bank (NASDAQ:FRBA) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). First Bank had a return on equity of 12.38% and a net margin of 14.48%. During the same quarter in the previous year, the company posted $0.42 EPS. Equities analysts predict that First Bank will post 1.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FRBA shares. Piper Sandler raised their price objective on shares of First Bank from $14.00 to $18.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com cut First Bank from a “buy” rating to a “hold” rating in a report on Friday, July 19th.

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.