First Bank (NASDAQ:FRBA) Releases Earnings Results, Beats Expectations By $0.03 EPS

First Bank (NASDAQ:FRBA) announced its earnings results on Thursday. The bank reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03, Zacks reports. First Bank had a net margin of 18.19% and a return on equity of 11.65%.

First Bank Stock Performance

Shares of NASDAQ FRBA traded up $0.19 during midday trading on Thursday, hitting $13.94. 43,072 shares of the company’s stock traded hands, compared to its average volume of 46,585. First Bank has a 1 year low of $11.20 and a 1 year high of $15.87. The stock has a market capitalization of $272.81 million, a price-to-earnings ratio of 8.77 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a fifty day moving average of $14.26 and a 200 day moving average of $14.56.

First Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Friday, November 8th. First Bank’s payout ratio is currently 15.09%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FRBA. StockNews.com raised First Bank from a “hold” rating to a “buy” rating in a research report on Sunday, December 29th. Piper Sandler reissued an “overweight” rating and issued a $17.00 target price (down previously from $18.00) on shares of First Bank in a research report on Wednesday, October 30th.

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.