First Bank (NASDAQ:FRBA) Releases Earnings Results, Misses Estimates By $0.17 EPS

Key Points

• EPS miss: First Bank reported $0.30 EPS for the quarter versus a $0.47 consensus, missing by $0.17; the company posted a net margin of 17.76% and a return on equity of 10.20%.
• Shares traded up $0.21 to $16.74 midday, giving a market capitalization of $420.17 million and a P/E of 9.62, with a 12‑month range of $13.82–$18.11.
• Dividend & outlook: The bank paid a $0.09 quarterly dividend ($0.36 annual, 2.2% yield, 20.69% payout ratio), while analysts show a mixed picture with an average Hold rating and an $18 target price.

First Bank (NASDAQ:FRBA - Get Free Report) announced its quarterly earnings data on Monday. The bank reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.17), Zacks reports. First Bank had a net margin of 17.76% and a return on equity of 10.20%.

First Bank Price Performance

Shares of NASDAQ FRBA traded up $0.21 during midday trading on Monday, hitting $16.74. The company had a trading volume of 63,196 shares, compared to its average volume of 61,920. The firm has a market capitalization of $420.17 million, a price-to-earnings ratio of 9.62 and a beta of 0.65. First Bank has a twelve month low of $13.82 and a twelve month high of $18.11. The business has a 50-day simple moving average of $16.21 and a two-hundred day simple moving average of $16.27. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

First Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, February 6th. First Bank's dividend payout ratio (DPR) is currently 20.69%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FRBA. Weiss Ratings reiterated a "buy (b)" rating on shares of First Bank in a research note on Monday, December 29th. DA Davidson started coverage on First Bank in a report on Wednesday, February 25th. They issued a "neutral" rating and a $18.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $18.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its position in shares of First Bank by 117.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,654 shares of the bank's stock valued at $41,000 after acquiring an additional 1,433 shares during the period. BNP Paribas Financial Markets increased its stake in First Bank by 21.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,620 shares of the bank's stock valued at $71,000 after purchasing an additional 825 shares in the last quarter. Lazard Asset Management LLC acquired a new position in First Bank during the second quarter worth $154,000. Mercer Global Advisors Inc. ADV purchased a new stake in First Bank during the third quarter worth $169,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in First Bank during the fourth quarter worth $183,000. 64.86% of the stock is owned by hedge funds and other institutional investors.

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. It also offers various loan products comprising commercial and industrial loans, which include line of credit, inventory, equipment, and short-term working capital financing; commercial real estate loans, such as owner-occupied, investor, construction and development, and multi-family loans; residential real estate loans comprising residential mortgages, first and second lien home equity loans, and revolving lines of credit; and consumer and other loans consists of auto, personal, traditional installment, and other loans.

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