First Bank (NASDAQ:FRBA) Announces Quarterly Dividend of $0.06

First Bank (NASDAQ:FRBA) announced a quarterly dividend on Monday, April 22nd, Zacks reports. Stockholders 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 dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, May 9th.

First Bank has raised its dividend payment 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. Research 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 Price Performance

Shares of First Bank stock traded down $0.62 during trading on Wednesday, hitting $11.70. 16,955 shares of the company’s stock traded hands, compared to its average volume of 50,610. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.09 and a quick ratio of 1.08. The firm’s fifty day moving average price is $13.06 and its 200 day moving average price is $13.05. First Bank has a twelve month low of $8.59 and a twelve month high of $15.17. The company has a market cap of $228.97 million, a PE ratio of 10.40 and a beta of 0.87.

First Bank (NASDAQ:FRBA) last released its quarterly 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 firm had revenue of $28.00 million for the quarter, compared to analyst estimates of $30.95 million. First Bank had a net margin of 13.63% and a return on equity of 12.23%. Analysts forecast that First Bank will post 1.73 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their price target on shares of First Bank from $16.00 to $15.00 and set an “overweight” rating on the stock in a research 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.