First Bank (NASDAQ:FRBA) Plans $0.06 Quarterly Dividend

First Bank (NASDAQ:FRBA) declared a quarterly dividend on Friday, January 24th,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 1.66%. The ex-dividend date of this dividend 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 13.9% meaning its dividend is sufficiently covered by earnings. Analysts expect First Bank to earn $1.64 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 14.6%.

First Bank Trading Up 3.6 %

Shares of NASDAQ:FRBA traded up $0.50 on Friday, hitting $14.44. The company had a trading volume of 54,288 shares, compared to its average volume of 47,096. The firm’s 50-day simple moving average is $14.26 and its two-hundred day simple moving average is $14.56. The firm has a market capitalization of $282.59 million, a price-to-earnings ratio of 9.08 and a beta of 0.95. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.66. First Bank has a 1 year low of $11.20 and a 1 year high of $15.87.

First Bank (NASDAQ:FRBA) last posted its earnings results on Thursday, January 23rd. The bank reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. First Bank had a return on equity of 11.65% and a net margin of 18.19%. Equities analysts anticipate that First Bank will post 1.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on FRBA. Piper Sandler reaffirmed an “overweight” rating and issued a $17.00 target price (down from $18.00) on shares of First Bank in a research report on Wednesday, October 30th. StockNews.com upgraded shares of First Bank from a “hold” rating to a “buy” rating in a report on Sunday, December 29th.

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.