First Bank (NASDAQ:FRBA) Announces Quarterly Dividend of $0.06

First Bank (NASDAQ:FRBA) announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Stockholders of record on Friday, November 8th will be paid a dividend of 0.06 per share by the bank on Friday, November 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Friday, November 8th.

First Bank has raised its dividend by an average of 26.0% annually over the last three years. First Bank has a payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

Shares of FRBA opened at $14.23 on Friday. The stock has a 50-day moving average price of $15.04 and a 200-day moving average price of $13.60. The company has a market cap of $278.47 million, a PE ratio of 12.59 and a beta of 0.93. First Bank has a 12-month low of $10.51 and a 12-month 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 (NASDAQ:FRBA) last released its 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 in the prior year, the company posted $0.42 earnings per share. As a group, equities analysts forecast that First Bank will post 1.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on FRBA. Piper Sandler boosted 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. StockNews.com downgraded First Bank from a “buy” rating to a “hold” rating in a research report on Friday, July 19th.

First Bank Company Profile

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.