Wall Street analysts forecast that First Bank (NASDAQ:FRBA – Get Rating) will post sales of $22.65 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for First Bank’s earnings. The highest sales estimate is $22.70 million and the lowest is $22.60 million. First Bank reported sales of $22.35 million in the same quarter last year, which indicates a positive year over year growth rate of 1.3%. The business is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.
According to Zacks, analysts expect that First Bank will report full year sales of $92.10 million for the current financial year, with estimates ranging from $91.90 million to $92.30 million. For the next year, analysts forecast that the business will report sales of $96.25 million, with estimates ranging from $95.30 million to $97.20 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover First Bank.
First Bank (NASDAQ:FRBA – Get Rating) last issued its quarterly earnings data on Wednesday, January 26th. The bank reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.01). The company had revenue of $22.85 million for the quarter, compared to the consensus estimate of $22.30 million. First Bank had a return on equity of 13.95% and a net margin of 35.83%. During the same period in the previous year, the firm earned $0.31 earnings per share.
Shares of NASDAQ FRBA traded down $0.01 during midday trading on Friday, hitting $14.04. The company’s stock had a trading volume of 191 shares, compared to its average volume of 33,565. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $14.27 and its two-hundred day moving average is $14.57. First Bank has a 12-month low of $10.85 and a 12-month high of $15.90. The firm has a market cap of $263.39 million, a P/E ratio of 7.78 and a beta of 0.83.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 25th. Shareholders of record on Friday, February 11th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, February 10th. This represents a $0.24 annualized dividend and a yield of 1.71%. First Bank’s payout ratio is currently 13.33%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRBA. Capital Market Strategies LLC purchased a new position in First Bank during the 4th quarter worth $4,507,000. Foundry Partners LLC purchased a new position in First Bank during the 4th quarter worth $1,302,000. Hillsdale Investment Management Inc. increased its holdings in First Bank by 1,402.9% during the 4th quarter. Hillsdale Investment Management Inc. now owns 84,165 shares of the bank’s stock worth $1,221,000 after purchasing an additional 78,565 shares during the period. Morgan Stanley increased its holdings in First Bank by 285.0% during the 2nd quarter. Morgan Stanley now owns 79,126 shares of the bank’s stock worth $1,071,000 after purchasing an additional 58,576 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in First Bank during the 4th quarter worth $680,000.
About First Bank (Get Rating)
First Bank provides various banking products and services to individuals, businesses, and governmental entities. 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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