First Bank (FRBA) to Issue Quarterly Dividend of $0.06 on February 21st

First Bank (NASDAQ:FRBA) declared a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Stockholders 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 dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, February 7th.

First Bank has raised 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. 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 Trading Up 3.6 %

NASDAQ:FRBA opened at $14.44 on Friday. The firm has a market capitalization of $282.59 million, a P/E ratio of 9.08 and a beta of 0.95. The business has a 50 day simple moving average of $14.23 and a 200 day simple moving average of $14.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.11 and a quick ratio of 1.11. First Bank has a 12-month low of $11.20 and a 12-month high of $15.87.

First Bank (NASDAQ:FRBA) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.42 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict that First Bank will post 1.65 EPS for the current year.

Analysts Set New Price Targets

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

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.