2024-03-14 18:23:31 ET
Summary
- I’m expecting flattish earnings this year, as below-average loan growth will likely counter the effect of margin contraction.
- My updated earnings estimate is almost the same as my previous estimate.
- FBAK is offering a high dividend yield of 6.4% excluding the annual special dividend, and 8.0% including the special dividend.
- The December 2024 target price suggests a high price upside. I’m maintaining a Buy rating on FBAK.
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First National Bank Alaska: Attractively Valued With A Mouth-Watering Dividend Yield