First Bank (NASDAQ:FRBA) Posts Earnings Results, Beats Expectations By $0.07 EPS

First Bank (NASDAQ:FRBA) posted its quarterly earnings data on Wednesday. The bank reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07, Zacks reports. First Bank had a net margin of 13.63% and a return on equity of 11.88%. The company had revenue of $56.25 million during the quarter, compared to the consensus estimate of $31.95 million. During the same period in the previous year, the firm posted $0.36 EPS.

First Bank Trading Up 1.7 %

NASDAQ:FRBA traded up $0.26 during trading hours on Thursday, reaching $15.18. The company’s stock had a trading volume of 116,286 shares, compared to its average volume of 50,232. The firm has a market capitalization of $297.07 million, a price-to-earnings ratio of 13.48 and a beta of 0.95. The firm has a 50-day simple moving average of $12.57 and a 200-day simple moving average of $12.94. First Bank has a 1 year low of $10.51 and a 1 year high of $15.41. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08.

First Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Thursday, May 9th. First Bank’s payout ratio is presently 21.24%.

Wall Street Analysts Forecast Growth

FRBA has been the topic of a number of analyst reports. Piper Sandler decreased 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 cut shares of First Bank from a “buy” rating to a “hold” rating in a research report on Friday, July 19th.

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.