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

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 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 1.66%. The ex-dividend date of this dividend is Friday, February 7th.

First Bank has increased its dividend by an average of 17.0% per year over the last three years. First Bank has a dividend payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of FRBA stock opened at $14.44 on Friday. The stock’s fifty day simple moving average is $14.23 and its 200-day simple moving average is $14.59. The company 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 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 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. First Bank had a net margin of 18.19% and a return on equity of 11.65%. On average, sell-side analysts predict that First Bank will post 1.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.