First Bank (FRBA) To Go Ex-Dividend on May 9th

First Bank (NASDAQ:FRBA) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Shareholders of record on Friday, May 10th will be given a dividend of 0.06 per share by the bank on Friday, May 24th. This represents a $0.24 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, May 9th.

First Bank has increased its dividend payment by an average of 26.0% per year 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

First Bank stock opened at $12.18 on Tuesday. The stock has a market cap of $238.36 million, a P/E ratio of 10.78 and a beta of 0.92. The company has a fifty day simple moving average of $12.76 and a 200-day simple moving average of $13.09. First Bank has a 12-month low of $9.11 and a 12-month high of $15.17. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their price objective 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.