Wall Street brokers expect First Bancorp (NASDAQ:FBNC – Get Rating) to report earnings of $0.96 per share for the current fiscal quarter, reports Zacks Investment Research. Three analysts released earnings estimates for First Bancorp. The highest EPS estimate is $1.00 and the lowest is $0.90. First Bancorp posted earnings per share of $0.99 in the same quarter last year, suggesting a negative 3% year-over-year growth rate. The company is expected to announce its next quarterly results on Monday, January 1.
On average, analysts expect First Bancorp to report annual earnings of $3.96 per share for the current year, with EPS estimates ranging from $3.83 to $4.13. For the next fiscal year, analysts expect the company to report earnings of $4.24 per share, with EPS estimates ranging from $3.95 to $4.50. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research companies that track First Bancorp.
First Bancorp (NASDAQ:FBNC – Get Rating) last released its quarterly results on Wednesday, January 26. The financial services provider reported earnings per share (EPS) of $0.67 for the quarter, missing analyst consensus estimates of $0.76 per ($0.09). The company posted revenue of $88.90 million in the quarter, compared to $86.15 million expected by analysts. First Bancorp had a net margin of 29.02% and a return on equity of 11.00%.
Several research analysts have commented on FBNC’s actions. StockNews.com began covering First Bancorp shares in a report on Thursday, March 31. They set a “holding” rating for the company. Raymond James launched First Bancorp stock coverage in a research report on Monday, February 28. They issued an “outperform” rating and a price target of $49.00 for the company.
Shares of FBNC traded down $0.82 during Tuesday’s trading, hitting $37.81. The company’s shares had a trading volume of 8,057 shares, compared to an average volume of 166,514. The company has a debt ratio of 0.05, a current ratio of 0.72 and a quick ratio of 0, 71. First Bancorp has a 1 year minimum of $37.60 and a 1 year maximum of $50.92. The company has a market capitalization of $1.35 billion, a price-earnings ratio of 11.43 and a beta of 1.18. The stock’s 50-day moving average price is $42.25 and its 200-day moving average price is $44.90.
The company also recently declared a quarterly dividend, which was paid on Monday, April 25. Shareholders of record on Thursday, March 31 received a dividend of $0.22 per share. This is a boost from First Bancorp’s previous quarterly dividend of $0.20. This represents an annualized dividend of $0.88 and a dividend yield of 2.33%. The ex-dividend date was Wednesday, March 30. First Bancorp’s dividend payout ratio (DPR) is currently 26.75%.
In other First Bancorp news, Director Mary Clara Capel sold 700 shares of First Bancorp in a trade on Tuesday, February 8. The shares were sold at an average price of $45.00, for a total value of $31,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Additionally, Director Carlie C. McLamb, Jr. acquired 721 shares of the company in a transaction on Thursday, February 17. The shares were acquired at an average cost of $44.58 per share, with a total value of $32,142.18. Disclosure of this purchase can be found here. Company insiders own 1.90% of the company’s shares.
Several hedge funds and other institutional investors have recently changed their stock holdings. BlackRock Inc. increased its position in First Bancorp by 24.2% in the fourth quarter. BlackRock Inc. now owns 5,183,539 shares of the financial services provider worth $236,991,000 after acquiring an additional 1,008,567 shares last quarter. William Blair Investment Management LLC increased its stake in First Bancorp to 50,754.3% in Q3. William Blair Investment Management LLC now owns 839,096 shares of the financial services provider worth $36,090,000 after buying an additional 837,446 shares in the last quarter. Brown Advisory Inc. acquired a new position in shares of First Bancorp during the fourth quarter worth approximately $21,056,000. Wellington Management Group LLP increased its holdings of First Bancorp shares by 102.5% during the third quarter. Wellington Management Group LLP now owns 692,365 shares of the financial services provider worth $29,779,000 after buying an additional 350,454 shares in the last quarter. Finally, State Street Corp increased its position in First Bancorp shares by 24.2% during the fourth quarter. State Street Corp now owns 1,544,149 shares of the financial services provider valued at $70,905,000 after purchasing an additional 301,345 shares during the period. Institutional investors and hedge funds hold 65.67% of the company’s shares.
About First Bancorp (Get an evaluation)
First Bancorp operates as a bank holding company for First Bank which provides banking products and services to individuals and small and medium-sized businesses, primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as term deposits, including certificates of deposit and individual retirement accounts.
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