First Bank (NASDAQ:FRBA – Get Free Report) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Friday, August 9th.
First Bank has increased its dividend payment by an average of 26.0% per year over the last three years. First Bank has a payout ratio of 13.7% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance
FRBA stock opened at $15.18 on Friday. The company has a 50 day moving average price of $12.63 and a 200 day moving average price of $12.96. 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 current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $297.07 million, a PE ratio of 13.43 and a beta of 0.95.
Analyst Upgrades and Downgrades
FRBA has been the topic of a number of research reports. Piper Sandler cut their target price on shares of First Bank from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. StockNews.com downgraded shares of First Bank from a “buy” rating to a “hold” rating in a research note on Friday, July 19th.
Get Our Latest Research Report on FRBA
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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