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

First Bank (NASDAQ:FRBA) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Investors of record on Friday, August 9th will be paid 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 increased its dividend by an average of 26.0% annually over the last three years. First Bank has a dividend payout ratio of 13.7% indicating that 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 Trading Up 1.7 %

Shares of FRBA stock opened at $15.18 on Friday. First Bank has a fifty-two week low of $10.51 and a fifty-two week high of $15.41. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The stock’s fifty day moving average is $12.63 and its two-hundred day moving average is $12.96. The firm has a market capitalization of $297.07 million, a P/E ratio of 13.43 and a beta of 0.95.

First Bank (NASDAQ:FRBA) last issued its earnings results on Wednesday, July 24th. The bank reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. The business had revenue of $56.25 million during 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 business earned $0.36 earnings per share. Research analysts expect that First Bank will post 1.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FRBA has been the subject of a number of analyst reports. StockNews.com lowered First Bank from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Piper Sandler dropped their target price on 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.