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

First Bank (NASDAQ:FRBA) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Investors of record on Friday, August 9th will be given a dividend of 0.06 per share by the bank on Friday, August 23rd. This represents a $0.24 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Friday, August 9th.

First Bank has raised its dividend by an average of 26.0% annually over the last three years. First Bank has a dividend payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Bank to earn $1.75 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 13.7%.

First Bank Price Performance

Shares of NASDAQ FRBA opened at $15.18 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. First Bank has a fifty-two week low of $10.51 and a fifty-two week high of $15.41. The business has a 50 day moving average price of $12.63 and a two-hundred day moving average price of $12.96. The firm has a market cap of $297.07 million, a PE ratio of 13.43 and a beta of 0.95.

First Bank (NASDAQ:FRBA) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.07. 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 period in the prior year, the company posted $0.36 earnings per share. Sell-side analysts expect that First Bank will post 1.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FRBA shares. StockNews.com lowered First Bank from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Piper Sandler decreased their price objective on shares of First Bank from $16.00 to $15.00 and set an “overweight” rating for the company in a report 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.