First Bancorp (NASDAQ:FBNC) announced a quarterly dividend on Tuesday, February 6th, NASDAQ reports. Shareholders of record on Friday, March 30th will be given a dividend of 0.10 per share by the financial services provider on Wednesday, April 25th. This represents a $0.40 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, March 28th. This is an increase from First Bancorp’s previous quarterly dividend of $0.08.
First Bancorp (NASDAQ:FBNC) traded down $0.54 on Friday, reaching $35.49. 52,811 shares of the company’s stock were exchanged, compared to its average volume of 91,303. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. First Bancorp has a 12-month low of $27.50 and a 12-month high of $41.76. The firm has a market cap of $1,099.18, a price-to-earnings ratio of 19.77, a PEG ratio of 1.03 and a beta of 1.14.
First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09). The firm had revenue of $63.72 million for the quarter, compared to the consensus estimate of $64.12 million. First Bancorp had a return on equity of 8.43% and a net margin of 20.32%. equities analysts forecast that First Bancorp will post 2.7 earnings per share for the current fiscal year.
A number of equities analysts have recently weighed in on FBNC shares. BidaskClub cut shares of First Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. Zacks Investment Research cut shares of First Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Brean Capital reissued a “buy” rating on shares of First Bancorp in a research report on Monday, January 29th. Piper Jaffray Companies reissued a “buy” rating and set a $42.00 price target on shares of First Bancorp in a research report on Tuesday, January 9th. Finally, Stephens started coverage on shares of First Bancorp in a research report on Monday, December 4th. They set an “equal weight” rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $39.50.
In other news, insider Suzanne S. Deferie sold 12,001 shares of First Bancorp stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $35.67, for a total transaction of $428,075.67. Following the transaction, the insider now directly owns 113,408 shares of the company’s stock, valued at $4,045,263.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mary Clara Capel sold 2,250 shares of First Bancorp stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $37.05, for a total transaction of $83,362.50. Following the transaction, the director now directly owns 13,746 shares in the company, valued at $509,289.30. The disclosure for this sale can be found here. Company insiders own 1.89% of the company’s stock.
About First Bancorp
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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