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

First Bank (NASDAQ:FRBA) announced a quarterly dividend on Wednesday, January 28th, NASDAQ Dividends reports. Shareholders of record on Friday, February 6th will be given a dividend of 0.09 per share by the bank on Friday, February 20th. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, February 6th.

First Bank has raised its dividend by an average of 0.1%per year over the last three years. First Bank has a payout ratio of 13.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Bank to earn $1.80 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 13.3%.

First Bank Stock Down 1.9%

Shares of FRBA stock opened at $16.33 on Thursday. First Bank has a twelve month low of $12.74 and a twelve month high of $18.11. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $16.57 and its two-hundred day moving average is $16.11.

First Bank (NASDAQ:FRBA) last posted its quarterly earnings data on Monday, January 26th. The bank reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. First Bank had a net margin of 17.76% and a return on equity of 10.32%. The firm had revenue of $38.46 million for the quarter, compared to analyst estimates of $37.42 million. Sell-side analysts expect that First Bank will post 1.78 earnings per share for the current year.

Hedge Funds Weigh In On First Bank

Several hedge funds and other institutional investors have recently modified their holdings of FRBA. Patriot Financial Partners GP II L.P. bought a new position in shares of First Bank in the third quarter worth $33,092,000. Vanguard Group Inc. raised its stake in First Bank by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,268,542 shares of the bank’s stock valued at $20,665,000 after purchasing an additional 12,470 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of First Bank by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 981,513 shares of the bank’s stock worth $15,988,000 after purchasing an additional 14,759 shares during the period. Royce & Associates LP boosted its stake in shares of First Bank by 93.0% during the 3rd quarter. Royce & Associates LP now owns 564,089 shares of the bank’s stock valued at $9,189,000 after buying an additional 271,825 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of First Bank by 1.9% during the second quarter. Geode Capital Management LLC now owns 485,358 shares of the bank’s stock worth $7,510,000 after acquiring an additional 9,006 shares in the last quarter. Institutional investors and hedge funds own 64.86% of the company’s stock.

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. 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.