First Bank (NASDAQ:FRBA) Issues Quarterly Earnings Results

First Bank (NASDAQ:FRBA) posted its quarterly earnings data on Wednesday. The bank reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06), RTT News reports. The company had revenue of $58.64 million for the quarter, compared to analyst estimates of $32.96 million. First Bank had a return on equity of 12.38% and a net margin of 14.48%. During the same period in the previous year, the business posted $0.42 earnings per share.

First Bank Price Performance

NASDAQ:FRBA traded down $0.24 during trading hours on Friday, hitting $13.99. The company’s stock had a trading volume of 29,214 shares, compared to its average volume of 48,501. The company has a market capitalization of $273.77 million, a PE ratio of 12.38 and a beta of 0.93. First Bank has a 52-week low of $10.51 and a 52-week high of $15.87. The business’s 50-day moving average is $15.02 and its two-hundred day moving average is $13.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.08 and a current ratio of 1.08.

First Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Friday, November 8th. First Bank’s dividend payout ratio is presently 21.24%.

Analyst Upgrades and Downgrades

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

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.