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

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

First Bank has increased its dividend by an average of 26.0% annually over the last three years. First Bank has a dividend payout ratio of 14.0% meaning 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 Trading Down 4.9 %

Shares of FRBA opened at $14.23 on Friday. First Bank has a 1-year low of $10.51 and a 1-year high of $15.87. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a 50 day simple moving average of $15.04 and a 200-day simple moving average of $13.60. The stock has a market cap of $278.47 million, a price-to-earnings ratio of 12.59 and a beta of 0.93.

First Bank (NASDAQ:FRBA) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the firm earned $0.42 earnings per share. Equities analysts forecast that First Bank will post 1.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FRBA. StockNews.com downgraded First Bank from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Piper Sandler increased their target price on First Bank from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 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.