First Bank (FRBA) To Go Ex-Dividend on August 7th

First Bank (NASDAQ:FRBA) declared a quarterly dividend on Tuesday, July 21st. Shareholders of record on Friday, August 7th will be paid a dividend of 0.09 per share by the bank on Friday, August 21st. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 7th.

First Bank has increased its dividend payment by an average of 0.1%annually over the last three years. First Bank has a payout ratio of 19.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Bank to earn $1.81 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 19.9%.

First Bank Stock Performance

Shares of FRBA stock opened at $18.69 on Wednesday. The business’s 50-day moving average price is $17.14 and its 200-day moving average price is $16.52. First Bank has a 12 month low of $14.40 and a 12 month high of $19.09. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $469.12 million, a price-to-earnings ratio of 11.06 and a beta of 0.53.

First Bank (NASDAQ:FRBA) last posted its earnings results on Thursday, July 23rd. The bank reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $36.95 million for the quarter, compared to the consensus estimate of $37.23 million. First Bank had a net margin of 17.45% and a return on equity of 9.63%. Equities research analysts forecast that First Bank will post 1.62 EPS for the current year.

Institutional Investors Weigh In On First Bank

Institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its stake in shares of First Bank by 74.6% in the 4th quarter. Squarepoint Ops LLC now owns 34,892 shares of the bank’s stock worth $574,000 after buying an additional 14,908 shares during the last quarter. Man Group plc lifted its holdings in First Bank by 5.1% during the second quarter. Man Group plc now owns 33,505 shares of the bank’s stock worth $518,000 after acquiring an additional 1,628 shares during the period. JPMorgan Chase & Co. raised its stake in shares of First Bank by 26.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,464 shares of the bank’s stock worth $350,000 after purchasing an additional 4,503 shares during the period. Jane Street Group LLC bought a new stake in shares of First Bank during the 1st quarter worth $347,000. Finally, First Trust Advisors LP boosted its holdings in shares of First Bank by 5.6% in the 2nd quarter. First Trust Advisors LP now owns 15,958 shares of the bank’s stock worth $247,000 after buying an additional 853 shares during the last quarter. 64.86% of the stock is owned by 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. It also offers various loan products comprising commercial and industrial loans, which include line of credit, inventory, equipment, and short-term working capital financing; commercial real estate loans, such as owner-occupied, investor, construction and development, and multi-family loans; residential real estate loans comprising residential mortgages, first and second lien home equity loans, and revolving lines of credit; and consumer and other loans consists of auto, personal, traditional installment, and other loans.