First Bank Expected to Earn Q2 2024 Earnings of $0.40 Per Share (NASDAQ:FRBA)

First Bank (NASDAQ:FRBA) – Investment analysts at DA Davidson issued their Q2 2024 EPS estimates for First Bank in a report issued on Friday, April 26th. DA Davidson analyst M. Navas anticipates that the bank will earn $0.40 per share for the quarter. The consensus estimate for First Bank’s current full-year earnings is $1.70 per share. DA Davidson also issued estimates for First Bank’s FY2025 earnings at $1.75 EPS.

Separately, Piper Sandler cut their price objective on First Bank from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th.

First Bank Price Performance

NASDAQ:FRBA opened at $11.68 on Monday. The firm has a market capitalization of $228.58 million, a price-to-earnings ratio of 10.34 and a beta of 0.87. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.09. The stock has a fifty day moving average of $12.87 and a 200 day moving average of $13.07. First Bank has a 52-week low of $8.59 and a 52-week high of $15.17.

First Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.24 dividend on an annualized basis and a yield of 2.05%. First Bank’s payout ratio is 21.24%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FRBA. PL Capital Advisors LLC purchased a new stake in First Bank during the 3rd quarter valued at about $5,984,000. BlackBarn Capital Partners LP purchased a new stake in shares of First Bank during the fourth quarter worth about $1,764,000. Bryn Mawr Capital Management LLC bought a new stake in shares of First Bank in the third quarter worth about $892,000. Minerva Advisors LLC bought a new position in First Bank during the 3rd quarter valued at approximately $443,000. Finally, Denali Advisors LLC purchased a new stake in First Bank in the 1st quarter worth approximately $293,000. 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.