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

First Bank (NASDAQ:FRBA) declared a quarterly dividend on Wednesday, October 23rd, Zacks reports. Stockholders of record on Friday, November 8th will be paid 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 dividend yield of 1.69%. The ex-dividend date is Friday, November 8th.

First Bank has raised its dividend payment by an average of 26.0% per year over the last three years. First Bank has a dividend payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

NASDAQ:FRBA opened at $14.23 on Friday. The stock’s 50-day moving average is $15.04 and its 200-day moving average is $13.60. First Bank has a 1-year low of $10.51 and a 1-year high of $15.87. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.55. The stock has a market cap of $278.47 million, a P/E ratio of 12.59 and a beta of 0.93.

First Bank (NASDAQ:FRBA) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.06). First Bank had a return on equity of 12.38% and a net margin of 14.48%. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Equities research analysts anticipate that First Bank will post 1.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FRBA. StockNews.com cut First Bank from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Piper Sandler increased their price target on First Bank from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Tuesday, July 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.