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

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

First Bank has raised its dividend by an average of 17.0% per year 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 %

FRBA opened at $15.36 on Wednesday. The company has a market cap of $300.60 million, a P/E ratio of 8.97 and a beta of 0.95. The company has a fifty day moving average price of $14.31 and a two-hundred day moving average price of $14.66. The company has a current ratio of 1.11, a quick 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 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 net margin of 18.41% and a return on equity of 11.06%. Analysts predict that First Bank will post 1.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.