Equities research analysts forecast that First Bancorp (NASDAQ:FBNC) will report earnings of $0.57 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued 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 per share of $0.41 during the same quarter last year, which would indicate a positive year-over-year growth rate of 39%. The firm is expected to issue its next quarterly earnings results 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 financial year, analysts forecast that the firm will report earnings of $2.91 per share, with EPS estimates ranging from $2.80 to $2.97. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow First Bancorp.
Several equities analysts recently issued reports on the stock. Brean Capital reissued a “buy” rating on shares of First Bancorp in a research note on Monday, February 5th. Zacks Investment Research downgraded shares of First Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Stephens assumed coverage on shares of First Bancorp in a research note on Monday, December 4th. They set an “equal weight” rating on the stock. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $41.00 price objective on shares of First Bancorp in a research note on Friday, December 22nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $39.50.
Large investors have recently bought and sold shares of the business. BB&T Securities LLC purchased a new position in First Bancorp during the third quarter worth approximately $423,000. State Street Corp raised its stake in First Bancorp by 27.9% during the second quarter. State Street Corp now owns 461,813 shares of the financial services provider’s stock worth $14,436,000 after purchasing an additional 100,632 shares during the period. Schwab Charles Investment Management Inc. raised its stake in First Bancorp by 5.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 103,363 shares of the financial services provider’s stock worth $3,557,000 after purchasing an additional 4,910 shares during the period. Northern Trust Corp raised its stake in First Bancorp by 12.1% during the second quarter. Northern Trust Corp now owns 291,653 shares of the financial services provider’s stock worth $9,116,000 after purchasing an additional 31,475 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of First Bancorp by 62.1% in the 2nd quarter. Alliancebernstein L.P. now owns 30,810 shares of the financial services provider’s stock valued at $963,000 after acquiring an additional 11,800 shares during the period. 56.53% of the stock is currently owned by institutional investors.
Shares of First Bancorp (NASDAQ:FBNC) traded up $0.50 on Monday, hitting $36.02. 58,292 shares of the company traded hands, compared to its average volume of 97,758. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $1,052.79, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 1.01 and a beta of 1.12. First Bancorp has a fifty-two week low of $27.50 and a fifty-two week high of $41.76.
The business 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. This represents a $0.32 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Thursday, December 28th. First Bancorp’s dividend payout ratio is currently 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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