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First Bank (NASDAQ:FRBA) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

First Bank logo with Finance background

First Bank (NASDAQ:FRBA - Get Free Report) issued its earnings results on Tuesday. The bank reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.02), Zacks reports. The company had revenue of $37.10 million during the quarter, compared to analyst estimates of $35.09 million. First Bank had a return on equity of 9.51% and a net margin of 16.13%.

First Bank Stock Up 0.2%

Shares of NASDAQ FRBA traded up $0.03 during midday trading on Friday, hitting $15.13. 40,733 shares of the company's stock were exchanged, compared to its average volume of 48,902. The company's 50 day moving average price is $15.18 and its 200 day moving average price is $14.75. First Bank has a 12 month low of $12.74 and a 12 month high of $16.47. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.12 and a current ratio of 1.12.

First Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.24 annualized dividend and a yield of 1.59%. First Bank's dividend payout ratio (DPR) is currently 15.89%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FRBA shares. Hovde Group increased their price target on shares of First Bank from $17.00 to $17.50 and gave the company an "outperform" rating in a research note on Thursday, April 24th. DA Davidson upped their target price on shares of First Bank from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday.

Get Our Latest Stock Report on FRBA

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new stake in shares of First Bank during the 1st quarter worth approximately $213,000. Goldman Sachs Group Inc. raised its stake in First Bank by 1.2% during the first quarter. Goldman Sachs Group Inc. now owns 78,677 shares of the bank's stock worth $1,165,000 after acquiring an additional 964 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of First Bank by 7.2% in the 1st quarter. Empowered Funds LLC now owns 95,139 shares of the bank's stock valued at $1,409,000 after purchasing an additional 6,415 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of First Bank during the 1st quarter valued at approximately $347,000. Institutional investors and hedge funds own 64.86% of the company's stock.

First Bank Company Profile

(Get Free Report)

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.

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Earnings History for First Bank (NASDAQ:FRBA)

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