First Bank (NASDAQ:FRBA) Issues Quarterly Earnings Results

First Bank (NASDAQ:FRBA) announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $31.95 million. First Bank had a return on equity of 11.88% and a net margin of 13.63%. During the same period in the previous year, the firm earned $0.36 EPS.

First Bank Price Performance

Shares of First Bank stock traded up $0.26 during trading on Thursday, reaching $15.18. 116,286 shares of the company’s stock were exchanged, compared to its average volume of 50,232. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. First Bank has a 1-year low of $10.51 and a 1-year high of $15.41. The company has a market cap of $297.07 million, a P/E ratio of 13.48 and a beta of 0.95. The firm’s 50-day moving average price is $12.57 and its 200 day moving average price is $12.94.

First Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, May 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.58%. First Bank’s dividend payout ratio (DPR) is currently 21.24%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FRBA. StockNews.com cut First Bank from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Piper Sandler dropped their price objective on First Bank from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th.

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.