First Bank (NASDAQ:FRBA) to Issue Quarterly Dividend of $0.09

Key Points

• First Bank (NASDAQ:FRBA) declared a quarterly dividend of $0.09 per share (annualized $0.36), payable May 22 to shareholders of record on May 8, implying a yield of about 2.4%.
• The dividend appears well covered—First Bank's current payout ratio is ~19.8%, and analysts project $2.07 EPS next year, implying a prospective payout ratio of roughly 17.4%.
• Recent results missed expectations (Q1 EPS $0.30 vs. $0.47 consensus), and the stock traded at $14.84 with a market cap around $372M and a P/E of ~8.9, near its 52-week low.

First Bank (NASDAQ:FRBA - Get Free Report) declared a quarterly dividend on Thursday, April 30th. Shareholders of record on Friday, May 8th will be paid a dividend of 0.09 per share by the bank on Friday, May 22nd. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, May 8th.

First Bank has increased its dividend by an average of 0.1%annually over the last three years. First Bank has a payout ratio of 19.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Bank to earn $2.07 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 17.4%.

First Bank Stock Performance

NASDAQ FRBA traded down $0.18 during trading on Thursday, hitting $14.84. The company's stock had a trading volume of 96,095 shares, compared to its average volume of 64,273. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average price of $16.12 and a 200 day moving average price of $16.27. The firm has a market cap of $372.42 million, a P/E ratio of 8.89 and a beta of 0.65. First Bank has a 52 week low of $14.20 and a 52 week high of $18.11.

First Bank (NASDAQ:FRBA - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The bank reported $0.30 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.17). The business had revenue of $36.39 million during the quarter, compared to the consensus estimate of $36.97 million. First Bank had a return on equity of 9.69% and a net margin of 17.02%. Equities research analysts forecast that First Bank will post 1.98 earnings per share for the current fiscal year.

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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