Wall Street brokerages expect that First Bancorp (NASDAQ:FBNC – Get Rating) will announce $0.96 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for First Bancorp’s earnings. The highest EPS estimate is $1.00 and the lowest is $0.90. First Bancorp posted earnings per share of $0.99 during the same quarter last year, which would suggest a negative year over year growth rate of 3%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that First Bancorp will report full-year earnings of $3.96 per share for the current year, with EPS estimates ranging from $3.83 to $4.13. For the next financial year, analysts anticipate that the company will 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 firms that follow First Bancorp.
First Bancorp (NASDAQ:FBNC – Get Rating) last released its quarterly earnings results on Wednesday, January 26th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.09). The company had revenue of $88.90 million during the quarter, compared to analysts’ expectations of $86.15 million. First Bancorp had a net margin of 29.02% and a return on equity of 11.00%.
Shares of FBNC stock traded down $0.82 during trading on Tuesday, reaching $37.81. The company’s stock had a trading volume of 8,057 shares, compared to its average volume of 166,514. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.72 and a quick ratio of 0.71. First Bancorp has a 1-year low of $37.60 and a 1-year high of $50.92. The company has a market capitalization of $1.35 billion, a price-to-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 25th. Shareholders of record on Thursday, March 31st were paid a dividend of $0.22 per share. This is a boost from First Bancorp’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Wednesday, March 30th. 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 stock in a transaction on Tuesday, February 8th. 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, which is accessible through this link. Also, Director Carlie C. Mclamb, Jr. acquired 721 shares of the firm’s stock in a transaction on Thursday, February 17th. The stock was acquired at an average cost of $44.58 per share, with a total value of $32,142.18. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised 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’s stock worth $236,991,000 after acquiring an additional 1,008,567 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in First Bancorp by 50,754.3% in the 3rd quarter. William Blair Investment Management LLC now owns 839,096 shares of the financial services provider’s stock worth $36,090,000 after purchasing an additional 837,446 shares during 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 lifted its holdings in shares of First Bancorp by 102.5% during the third quarter. Wellington Management Group LLP now owns 692,365 shares of the financial services provider’s stock worth $29,779,000 after buying an additional 350,454 shares during the last quarter. Finally, State Street Corp increased its position in shares of First Bancorp by 24.2% during the fourth quarter. State Street Corp now owns 1,544,149 shares of the financial services provider’s stock valued at $70,905,000 after purchasing an additional 301,345 shares during the period. Institutional investors and hedge funds own 65.67% of the company’s stock.
About First Bancorp (Get Rating)
First Bancorp operates as the bank holding company for First Bank that provides banking products and services for individuals and small to 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 time deposits, including certificate of deposits and individual retirement accounts.
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