First Bank (NASDAQ:FRBA) Plans $0.09 Quarterly Dividend

First Bank (NASDAQ:FRBA) declared a quarterly dividend on Tuesday, July 21st. Investors of record on Friday, August 7th will be given a dividend of 0.09 per share by the bank on Friday, August 21st. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 7th.

First Bank has raised its dividend by an average of 0.1%annually over the last three years. First Bank has a dividend payout ratio of 19.8% meaning its dividend is sufficiently covered by earnings. Analysts expect First Bank to earn $1.81 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 19.9%.

First Bank Stock Performance

NASDAQ:FRBA opened at $18.69 on Wednesday. The stock has a 50-day simple moving average of $17.14 and a two-hundred day simple moving average of $16.52. First Bank has a 52-week low of $14.40 and a 52-week high of $19.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $469.12 million, a PE ratio of 11.06 and a beta of 0.53.

First Bank (NASDAQ:FRBA) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. First Bank had a return on equity of 9.63% and a net margin of 17.45%.The business had revenue of $36.95 million during the quarter, compared to analysts’ expectations of $37.23 million. Analysts forecast that First Bank will post 1.62 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its position in First Bank by 117.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,654 shares of the bank’s stock worth $41,000 after purchasing an additional 1,433 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of First Bank by 21.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,620 shares of the bank’s stock worth $71,000 after buying an additional 825 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of First Bank in the 2nd quarter worth $154,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of First Bank in the 3rd quarter worth about $169,000. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of First Bank in the 4th quarter worth about $183,000. 64.86% of the stock is owned by hedge funds and other institutional investors.

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.