First Bank (NASDAQ:FRBA – Get Free Report) 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.
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.
Read Our Latest Stock Report on First Bank
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.
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