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

First Bank (NASDAQ:FRBA - Get Free Report) announced a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, February 7th.

First Bank has increased its dividend payment by an average of 17.0% annually over the last three years. First Bank has a payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Research 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

Shares of First Bank stock traded up $0.50 during trading on Friday, hitting $14.44. 54,288 shares of the stock traded hands, compared to its average volume of 47,096. The stock has a market cap of $282.59 million, a price-to-earnings ratio of 9.08 and a beta of 0.95. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.66. First Bank has a 52 week low of $11.20 and a 52 week high of $15.87. The firm's fifty day moving average is $14.26 and its 200-day moving average is $14.56.

First Bank (NASDAQ:FRBA - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.42 EPS for the quarter, topping 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%. Research analysts expect that First Bank will post 1.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FRBA shares. StockNews.com raised 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 from $18.00) on shares of First Bank in a research report on Wednesday, October 30th.

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.

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