First Bank (NASDAQ:FRBA – Get Free Report) 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.
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.
Read Our Latest Analysis on First Bank
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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