First Bank (FRBA) to Issue Quarterly Dividend of $0.06 on February 21st

First Bank (NASDAQ:FRBA) declared a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Shareholders of record on Friday, February 7th will be paid a dividend of 0.06 per share by the bank on Friday, February 21st. This represents a $0.24 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Friday, February 7th.

First Bank has raised its dividend payment by an average of 17.0% annually over the last three years. First Bank has a payout ratio of 13.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Bank to earn $1.80 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 13.3%.

First Bank Trading Up 2.5 %

Shares of First Bank stock opened at $15.36 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 1.11. The business has a fifty day simple moving average of $14.31 and a two-hundred day simple moving average of $14.66. First Bank has a 1 year low of $11.20 and a 1 year high of $15.87. The company has a market capitalization of $300.60 million, a price-to-earnings ratio of 8.97 and a beta of 0.95.

First Bank (NASDAQ:FRBA) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. First Bank had a return on equity of 11.06% and a net margin of 18.41%. Research analysts forecast that First Bank will post 1.78 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on FRBA shares. StockNews.com downgraded First Bank from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Piper Sandler restated an “overweight” rating and set a $17.00 price objective (down previously from $18.00) on shares of First Bank in a research report on Wednesday, October 30th.

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.