First Bank (NASDAQ:FRBA) Releases Earnings Results, Beats Expectations By $0.03 EPS

First Bank (NASDAQ:FRBA) issued its quarterly earnings data on Thursday. The bank reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03, Zacks reports. First Bank had a return on equity of 11.65% and a net margin of 18.19%.

First Bank Price Performance

Shares of FRBA stock traded up $0.19 during trading hours on Thursday, hitting $13.94. 43,072 shares of the company’s stock were exchanged, compared to its average volume of 46,585. First Bank has a 12-month low of $11.20 and a 12-month high of $15.87. The company has a market capitalization of $272.81 million, a PE ratio of 8.77 and a beta of 0.95. The business’s 50 day simple moving average is $14.26 and its 200-day simple moving average is $14.56. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.66.

First Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Friday, November 8th. First Bank’s payout ratio is currently 15.09%.

Analyst Ratings Changes

FRBA has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and issued a $17.00 price target (down previously from $18.00) on shares of First Bank in a research note on Wednesday, October 30th. StockNews.com upgraded shares of First Bank from a “hold” rating to a “buy” rating in a research report on Sunday, December 29th.

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.