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

First Bank (NASDAQ:FRBA) announced its earnings results on Thursday. The bank reported $0.42 earnings per share (EPS) for the quarter, topping 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 Trading Up 3.6 %

Shares of NASDAQ FRBA opened at $14.44 on Friday. First Bank has a 1-year low of $11.20 and a 1-year high of $15.87. The company has a 50-day moving average of $14.23 and a two-hundred day moving average of $14.57. The company has a market cap of $282.58 million, a PE ratio of 9.08 and a beta of 0.95. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.66.

First Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, February 7th. First Bank’s dividend payout ratio is currently 14.37%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com raised shares of First Bank from a “hold” rating to a “buy” rating in a report on Sunday, December 29th. Piper Sandler restated an “overweight” rating and set a $17.00 price target (down 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.