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

First Bank (NASDAQ:FRBA - Get Free Report) declared a quarterly dividend on Wednesday, October 23rd, Zacks reports. Shareholders of record on Friday, November 8th will be given a dividend of 0.06 per share by the bank on Friday, November 22nd. This represents a $0.24 annualized dividend and a yield of 1.72%. The ex-dividend date is Friday, November 8th.

First Bank has raised its dividend payment by an average of 26.0% annually over the last three years. First Bank has a payout ratio of 14.0% indicating that its dividend is sufficiently covered by earnings. 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

Shares of FRBA stock traded down $0.24 during mid-day trading on Friday, reaching $13.99. 29,214 shares of the company's stock traded hands, compared to its average volume of 48,501. First Bank has a 12 month low of $10.51 and a 12 month high of $15.87. The firm has a 50 day moving average price of $15.04 and a two-hundred day moving average price of $13.60. The firm has a market capitalization of $273.77 million, a PE ratio of 12.59 and a beta of 0.93. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.08 and a current ratio of 1.08.

First Bank (NASDAQ:FRBA - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.06). First Bank had a net margin of 14.48% and a return on equity of 12.38%. The company had revenue of $58.64 million for the quarter, compared to the consensus estimate of $32.96 million. During the same period in the prior year, the firm posted $0.42 EPS. On average, research analysts forecast that First Bank will post 1.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FRBA shares. Piper Sandler upped their price objective on First Bank from $14.00 to $18.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. StockNews.com downgraded First Bank from a "buy" rating to a "hold" rating in a research note on Friday, July 19th.

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.