First Bank (FRBA) to Distribute Quarterly Dividend of $0.12 on November 20th

First Bank (NASDAQ:FRBA) announced a quarterly dividend on Thursday, October 22nd. Investors of record on Friday, November 6th will be paid a dividend of $0.12 per share by the bank on Friday, November 20th. This represents a $0.48 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, November 6th. This is a 33.3% increase from First Bank’s previous quarterly dividend of $0.09.

First Bank has increased its dividend 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. Equities 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 Price Performance

Shares of First Bank stock opened at $19.39 on Friday. The business has a 50 day simple moving average of $17.90 and a two-hundred day simple moving average of $17.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $486.69 million, a P/E ratio of 10.85 and a beta of 0.57. First Bank has a 12 month low of $14.40 and a 12 month high of $19.50.

First Bank (NASDAQ:FRBA) last posted its quarterly earnings results on Thursday, October 22nd. The bank reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. First Bank had a net margin of 17.73% and a return on equity of 9.58%. The business had revenue of $38.76 million during the quarter, compared to analysts’ expectations of $37.70 million. As a group, analysts predict that First Bank will post 1.62 EPS for the current fiscal year.

About First Bank

First Bank (NASDAQ: FRBA) is a community-focused commercial bank headquartered in Hamilton, New Jersey. Founded in 2007, the bank provides banking services to businesses, individuals and organizations in New Jersey and eastern Pennsylvania.

Its products and services include commercial and industrial loans, commercial real estate financing, residential mortgage loans, consumer lending, checking and savings accounts, certificates of deposit, cash-management services and online banking. First Bank emphasizes relationship-based banking and serves small and mid-sized businesses, professionals, nonprofit organizations and individual customers.

First Bank operates a network of branches in central and southern New Jersey and the greater Philadelphia region.