First Bank (NASDAQ:FRBA) Announces Quarterly Dividend of $0.03
First Bank (NASDAQ:FRBA) declared a quarterly dividend on Monday, April 26th, Zacks reports. Shareholders of record on Friday, May 7th will be given a dividend of 0.03 per share by the bank on Friday, May 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, May 6th.
First Bank has raised its dividend by 50.0% over the last three years and has raised its dividend annually for the last 1 consecutive years. First Bank has a payout ratio of 9.5% meaning its dividend is sufficiently covered by earnings. Analysts expect First Bank to earn $1.05 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 11.4%.
NASDAQ FRBA opened at $13.29 on Tuesday. The company has a 50 day moving average price of $11.78 and a two-hundred day moving average price of $10.17. First Bank has a 12-month low of $6.05 and a 12-month high of $13.85. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $249.32 million, a PE ratio of 14.45 and a beta of 0.91.
FRBA has been the subject of a number of analyst reports. Zacks Investment Research downgraded First Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 6th. TheStreet lowered shares of First Bank from a “b-” rating to a “c+” rating in a research report on Thursday, January 21st.
About First Bank
First Bank provides various banking products and services to individuals, businesses, and governmental entities. 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.
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