First Bank (NASDAQ:FRBA) Announces Earnings Results, Misses Expectations By $0.06 EPS

by · The Cerbat Gem

First Bank (NASDAQ:FRBA – Get Free Report) posted its quarterly earnings results on Wednesday. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.06), RTT News reports. First Bank had a net margin of 14.48% and a return on equity of 12.38%. The business had revenue of $58.64 million during the quarter, compared to analysts’ expectations of $32.96 million. During the same quarter in the previous year, the business posted $0.42 EPS.

First Bank Stock Down 1.7 %

FRBA traded down $0.24 during trading hours on Friday, reaching $13.99. 29,214 shares of the stock traded hands, compared to its average volume of 48,501. First Bank has a fifty-two week low of $10.51 and a fifty-two week high of $15.87. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $273.77 million, a price-to-earnings ratio of 12.59 and a beta of 0.93. The firm’s fifty day simple moving average is $15.04 and its two-hundred day simple moving average is $13.60.

First Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.24 annualized dividend and a dividend yield of 1.72%. First Bank’s dividend payout ratio (DPR) is presently 21.24%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com cut shares of First Bank from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Piper Sandler upped their target price on First Bank from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th.

Read Our Latest Stock Analysis on FRBA

First Bank Company Profile

(Get Free Report)

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.

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