First Bancorp (NASDAQ:FBNC) is expected to post earnings of $0.94 per share
Wall Street analysts expect First Bancorp (NASDAQ:FBNC) to report earnings of $0.94 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts released earnings estimates for First Bancorp, with the lowest EPS estimate of $0.90 and the highest estimate of $0.97. First Bancorp reported earnings of $0.99 per share in the same quarter last year, which would indicate a negative 5.1% year-over-year growth rate. The company is expected to release its next quarterly earnings report on Tuesday, April 26.
According to Zacks, analysts expect First Bancorp to report annual earnings of $3.90 per share for the current year, with EPS estimates ranging from $3.84 to $3.98. For the next fiscal year, analysts expect the company to report earnings of $4.20 per share, with EPS estimates ranging from $4.10 to $4.30. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts who follow First Bancorp.
First Bancorp Inc (NASDAQ:FBNC) last released its quarterly results on Wednesday, January 26. The financial services provider reported earnings per share of $0.30 for the quarter, missing Thomson Reuters’ consensus estimate of $0.45 per ($0.15). First Bancorp had a return on equity of 11.00% and a net margin of 29.02%.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded First Bancorp from a “hold” rating to a “buy” rating and set a price target of $50.00 for the stock in a Monday, December 13 research report. StockNews.com downgraded First Bancorp from a “hold” rating to a “sell” rating in a report released Wednesday.
Separately, director Carlie C. McLamb, Jr. acquired 721 shares of the company in a transaction on Thursday, February 17. The shares were purchased at an average cost of $44.58 per share, with a total value of $32,142.18. The purchase was disclosed in a filing with the SEC, which is available via this link. Additionally, director Mary Clara Capel sold 700 shares of the company in a transaction on Tuesday, February 8. The shares were sold at an average price of $45.00, for a total value of $31,500.00. The disclosure of this sale can be found here. 2.28% of the shares are currently held by insiders.
Several large investors have recently increased or reduced their stake in the company. Vanguard Group Inc. increased its position in First Bancorp shares by 2.3% during the second quarter. Vanguard Group Inc. now owns 1,856,424 shares of the financial services provider valued at $75,946,000 after acquiring an additional 42,312 shares during the period. 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 acquiring an additional 301,345 shares during the period. Dimensional Fund Advisors LP increased its position in First Bancorp shares by 7.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,383,154 shares of the financial services provider valued at $63,237,000 after acquiring an additional 90,290 shares during the period. Macquarie Group Ltd. increased its position in First Bancorp shares by 1.0% during the third quarter. Macquarie Group Ltd. now owns 1,147,775 shares of the financial services provider valued at $49,365,000 after acquiring an additional 11,382 shares during the period. Finally, Jennison Associates LLC increased its position in First Bancorp shares by 3.4% during the 4th quarter. Jennison Associates LLC now owns 951,606 shares of the financial services provider valued at $43,507,000 after acquiring an additional 31,608 shares during the period. Hedge funds and other institutional investors own 65.67% of the company’s shares.
NASDAQ: FBNC opened Wednesday at $44.63. The company has a market capitalization of $1.59 billion, a price-earnings ratio of 13.57 and a beta of 1.22. First Bancorp has a 12-month low of $37.60 and a 12-month high of $50.92. The stock’s 50-day moving average price is $45.45 and its two-hundred-day moving average price is $44.64. The company has a quick ratio of 0.71, a current ratio of 0.72 and a debt ratio of 0.05.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 25. Investors of record on Thursday, March 31 will receive a dividend of $0.22 per share. The ex-dividend date is Wednesday, March 30. This is a positive change from First Bancorp’s previous quarterly dividend of $0.20. This represents a dividend of $0.88 on an annualized basis and a dividend yield of 1.97%. First Bancorp’s payout ratio is currently 24.32%.
First Bancorp Company Profile
First Bancorp operates as a bank holding company, which engages in banking business, accepting deposits and making loans. It offers a range of deposit products such as checking, savings, NOW and money market accounts, as well as term deposits, including various types of certificates of deposit and individual retirement accounts.
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