First Bancorp (NASDAQ:FBNC) Expected to Announce Earnings of $1.01 Per Share

Wall Street analysts predict that First Bancorp (NASDAQ:FBNCGet Rating) will announce earnings per share (EPS) of $1.01 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for First Bancorp’s earnings, with the lowest EPS estimate coming in at $0.97 and the highest estimate coming in at $1.03. First Bancorp reported earnings of $1.03 per share during the same quarter last year, which suggests a negative year over year growth rate of 1.9%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that First Bancorp will report full year earnings of $3.97 per share for the current year, with EPS estimates ranging from $3.84 to $4.15. For the next financial year, analysts expect that the firm will post earnings of $4.25 per share, with EPS estimates ranging from $4.10 to $4.45. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover First Bancorp.

First Bancorp (NASDAQ:FBNCGet Rating) last announced its earnings results on Wednesday, April 27th. The financial services provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.01). First Bancorp had a return on equity of 10.92% and a net margin of 29.04%. The firm had revenue of $96.13 million for the quarter, compared to the consensus estimate of $92.00 million.

Several equities research analysts recently commented on the company. Raymond James assumed coverage on First Bancorp in a report on Monday, February 28th. They set an “outperform” rating and a $49.00 target price on the stock. StockNews.com initiated coverage on First Bancorp in a report on Thursday, March 31st. They set a “hold” rating on the stock.

In other news, Director Dexter V. Perry acquired 1,000 shares of the stock in a transaction on Monday, March 7th. The shares were purchased at an average cost of $41.85 per share, for a total transaction of $41,850.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carlie C. Mclamb, Jr. acquired 1,238 shares of the stock in a transaction on Monday, May 16th. The shares were purchased at an average price of $35.99 per share, for a total transaction of $44,555.62. Following the completion of the transaction, the director now owns 21,838 shares in the company, valued at approximately $785,949.62. The disclosure for this purchase can be found here. Insiders acquired 4,938 shares of company stock worth $186,306 in the last ninety days. 1.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of FBNC. BlackRock Inc. grew its position in First Bancorp by 24.2% during the 4th quarter. BlackRock Inc. now owns 5,183,539 shares of the financial services provider’s stock worth $236,991,000 after purchasing an additional 1,008,567 shares in the last quarter. William Blair Investment Management LLC grew its position in First Bancorp by 50,754.3% during 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 in the last quarter. Brown Advisory Inc. purchased a new position in First Bancorp during the 4th quarter worth approximately $21,056,000. Wellington Management Group LLP grew its position in First Bancorp by 102.5% during the 3rd quarter. Wellington Management Group LLP now owns 692,365 shares of the financial services provider’s stock worth $29,779,000 after purchasing an additional 350,454 shares in the last quarter. Finally, State Street Corp grew its position in First Bancorp by 24.2% during the 4th quarter. State Street Corp now owns 1,544,149 shares of the financial services provider’s stock worth $70,905,000 after purchasing an additional 301,345 shares in the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

Shares of NASDAQ:FBNC opened at $36.63 on Monday. First Bancorp has a 12 month low of $35.50 and a 12 month high of $50.92. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 11.27 and a beta of 1.17. The stock’s 50 day moving average price is $40.05 and its 200 day moving average price is $43.86. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.70 and a quick ratio of 0.70.

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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Earnings History and Estimates for First Bancorp (NASDAQ:FBNC)

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