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

First Bank (NASDAQ:FRBA) announced a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Investors of record on Friday, February 7th will be given a dividend of 0.06 per share by the bank on Friday, February 21st. This represents a $0.24 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, February 7th.

First Bank has increased its dividend payment by an average of 17.0% per year over the last three years. First Bank has a dividend payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Analysts expect First Bank to earn $1.64 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 14.6%.

First Bank Price Performance

FRBA stock opened at $14.44 on Friday. The business’s fifty day moving average price is $14.23 and its 200 day moving average price is $14.57. First Bank has a 12-month low of $11.20 and a 12-month high of $15.87. The company has a market capitalization of $282.58 million, a PE ratio of 9.08 and a beta of 0.95. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.66.

First Bank (NASDAQ:FRBA) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. First Bank had a net margin of 18.19% and a return on equity of 11.65%. On average, sell-side analysts anticipate that First Bank will post 1.65 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on FRBA. StockNews.com upgraded shares of First Bank from a “hold” rating to a “buy” rating in a research note on Sunday, December 29th. Piper Sandler restated an “overweight” rating and set a $17.00 price target (down previously from $18.00) on shares of First Bank in a report on Wednesday, October 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.