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

First Bank (NASDAQ:FRBA - Get Free Report) announced a quarterly dividend on Monday, April 22nd, Zacks reports. Investors of record on Friday, May 10th will be paid a dividend of 0.06 per share by the bank on Friday, May 24th. This represents a $0.24 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, May 9th.

First Bank has raised its dividend by an average of 26.0% per year over the last three years. First Bank has a dividend payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Bank to earn $1.82 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 13.2%.

First Bank Stock Down 2.8 %

First Bank stock traded down $0.35 during mid-day trading on Wednesday, hitting $11.97. The company had a trading volume of 62,453 shares, compared to its average volume of 51,237. The business has a fifty day moving average of $13.02 and a 200 day moving average of $13.04. The stock has a market cap of $234.24 million, a price-to-earnings ratio of 10.59 and a beta of 0.87. First Bank has a 1 year low of $8.59 and a 1 year high of $15.17. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 0.63.

First Bank (NASDAQ:FRBA - Get Free Report) last announced its earnings results on Wednesday, January 24th. The bank reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.12. The business had revenue of $28.00 million for the quarter, compared to analysts' expectations of $30.95 million. First Bank had a net margin of 13.63% and a return on equity of 12.23%. On average, sell-side analysts expect that First Bank will post 1.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Piper Sandler cut their target price on shares of First Bank from $16.00 to $15.00 and set an "overweight" rating on the stock in a report on Wednesday.

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.