Analysts expect that First Bancorp (NASDAQ:FBNC) will post earnings of $0.57 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for First Bancorp’s earnings, with the lowest EPS estimate coming in at $0.51 and the highest estimate coming in at $0.61. First Bancorp reported earnings of $0.41 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 39%. The firm is scheduled to issue its next quarterly earnings report on Thursday, April 26th.
On average, analysts expect that First Bancorp will report full-year earnings of $2.64 per share for the current financial year, with EPS estimates ranging from $2.34 to $2.86. For the next fiscal year, analysts expect that the company will post earnings of $2.91 per share, with EPS estimates ranging from $2.80 to $2.97. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow First Bancorp.
Several equities analysts recently weighed in on FBNC shares. Zacks Investment Research upgraded First Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, January 3rd. Piper Jaffray Companies reiterated a “buy” rating and set a $42.00 target price on shares of First Bancorp in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $41.00 target price on shares of First Bancorp in a research report on Friday, December 22nd. BidaskClub lowered First Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. Finally, Brean Capital restated a “buy” rating on shares of First Bancorp in a research note on Tuesday, January 2nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $39.50.
In other news, CEO Richard H. Moore purchased 2,755 shares of the company’s stock in a transaction on Wednesday, December 20th. The stock was bought at an average cost of $36.00 per share, for a total transaction of $99,180.00. Following the completion of the purchase, the chief executive officer now directly owns 121,741 shares of the company’s stock, valued at approximately $4,382,676. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suzanne S. Deferie sold 12,001 shares of the company’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $35.67, for a total value of $428,075.67. Following the sale, the insider now owns 113,408 shares of the company’s stock, valued at $4,045,263.36. The disclosure for this sale can be found here. Corporate insiders own 2.37% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in First Bancorp by 2.0% during the second quarter. JPMorgan Chase & Co. now owns 53,009 shares of the financial services provider’s stock worth $1,657,000 after acquiring an additional 1,041 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of First Bancorp by 7.7% in the second quarter. Voya Investment Management LLC now owns 15,488 shares of the financial services provider’s stock valued at $484,000 after buying an additional 1,113 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of First Bancorp by 3.2% in the fourth quarter. California Public Employees Retirement System now owns 68,888 shares of the financial services provider’s stock valued at $2,432,000 after buying an additional 2,142 shares in the last quarter. Jennison Associates LLC grew its stake in shares of First Bancorp by 2.4% in the fourth quarter. Jennison Associates LLC now owns 92,940 shares of the financial services provider’s stock valued at $3,282,000 after buying an additional 2,152 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of First Bancorp by 12.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 21,022 shares of the financial services provider’s stock valued at $743,000 after buying an additional 2,312 shares in the last quarter. Institutional investors own 56.68% of the company’s stock.
Shares of First Bancorp (NASDAQ FBNC) traded up $0.50 during trading hours on Monday, hitting $36.02. The stock had a trading volume of 58,200 shares, compared to its average volume of 97,358. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.05 and a quick ratio of 1.05. First Bancorp has a twelve month low of $27.50 and a twelve month high of $41.76. The stock has a market capitalization of $1,067.61, a P/E ratio of 19.68, a P/E/G ratio of 1.03 and a beta of 1.12.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Sunday, December 31st were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.32 annualized dividend and a yield of 0.89%. First Bancorp’s dividend payout ratio is presently 17.78%.
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First Bancorp Company Profile
First Bancorp is the bank holding company for First Bank (the Bank). The Company’s principal activity is the ownership and operation of First Bank. The Bank engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Bank offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.
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