First Bank (NASDAQ:FRBA) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

First Bank (NASDAQ:FRBA) posted its earnings results on Wednesday. The bank reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06), RTT News reports. The business had revenue of $58.64 million for the quarter, compared to analyst estimates of $32.96 million. First Bank had a return on equity of 12.38% and a net margin of 14.48%. During the same period last year, the company posted $0.42 EPS.

First Bank Stock Down 1.7 %

NASDAQ:FRBA traded down $0.24 during trading hours on Friday, hitting $13.99. The stock had a trading volume of 29,214 shares, compared to its average volume of 48,501. The company has a market cap of $273.77 million, a PE ratio of 12.38 and a beta of 0.93. The business has a 50 day simple moving average of $15.02 and a two-hundred day simple moving average of $13.61. First Bank has a 1-year low of $10.51 and a 1-year high of $15.87. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.55.

First Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Friday, November 8th. First Bank’s dividend payout ratio (DPR) is presently 21.24%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FRBA. StockNews.com lowered shares of First Bank from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Piper Sandler increased their price target on First Bank from $14.00 to $18.00 and gave the company an “overweight” rating in a 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.