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

First Bank (NASDAQ:FRBA) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Friday, May 10th will be paid 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 1.95%. 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 13.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Bank to earn $1.75 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 13.7%.

First Bank Price Performance

Shares of NASDAQ:FRBA opened at $12.29 on Wednesday. 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 firm has a fifty day moving average price of $12.74 and a 200 day moving average price of $13.10. First Bank has a fifty-two week low of $9.11 and a fifty-two week high of $15.17. The firm has a market cap of $240.52 million, a price-to-earnings ratio of 10.88 and a beta of 0.92.

Wall Street Analysts Forecast Growth

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

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.