First Bank Announces Quarterly Dividend of $0.02 (FRBA)
First Bank (NASDAQ:FRBA) announced a quarterly dividend on Tuesday, October 17th, NASDAQ reports. Shareholders of record on Friday, November 10th will be given a dividend of 0.02 per share by the bank on Friday, November 24th. This represents a $0.08 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, November 9th.
First Bank (NASDAQ:FRBA) traded up $0.15 on Friday, hitting $13.25. The company’s stock had a trading volume of 27,449 shares, compared to its average volume of 20,542. The stock has a market cap of $231.04 million, a price-to-earnings ratio of 18.93 and a beta of 0.58.
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A hedge fund recently bought a new stake in First Bank stock. State Street Corp acquired a new stake in First Bank (NASDAQ:FRBA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 36,536 shares of the bank’s stock, valued at approximately $426,000. State Street Corp owned approximately 0.24% of First Bank at the end of the most recent reporting period. Institutional investors and hedge funds own 37.30% of the company’s stock.
Several equities analysts have recently weighed in on FRBA shares. Sandler O’Neill set a $14.00 price objective on First Bank and gave the company a “hold” rating in a report on Wednesday, October 11th. Zacks Investment Research cut First Bank from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th.
About First Bank
First Bank is a commercial bank. The Company provides a range of lending, deposit and other financial products and services. It operates through Community Banking segment, which is engaged in providing a range of commercial and retail and related banking services. It offers a range of lending products to meet the needs of its customers located within its market areas, including commercial and industrial loans, commercial real estate loans (including owner-occupied, investor, and multi-family loans), residential real estate loans, and consumer and other loans.
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