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

First Bank (NASDAQ:FRBA) announced a quarterly dividend on Monday, April 22nd, Zacks reports. Shareholders of record on Friday, May 10th will be given a dividend of 0.06 per share by the bank on Friday, May 24th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, May 9th.

First Bank has increased its dividend payment by an average of 26.0% annually over the last three years. First Bank has a dividend payout ratio of 13.3% meaning 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 Price Performance

Shares of NASDAQ FRBA traded down $0.57 during midday trading on Wednesday, reaching $11.75. 8,372 shares of the company were exchanged, compared to its average volume of 50,548. 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 has a one year low of $8.59 and a one year high of $15.17. The stock has a market cap of $229.95 million, a P/E ratio of 10.50 and a beta of 0.87. The stock’s 50-day moving average price is $13.06 and its 200-day moving average price is $13.05.

First Bank (NASDAQ:FRBA) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. First Bank had a net margin of 13.63% and a return on equity of 12.23%. The company had revenue of $28.00 million for the quarter, compared to analysts’ expectations of $30.95 million. On average, sell-side analysts anticipate that First Bank will post 1.73 earnings per share for the current fiscal year.

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.