First Bancorp (FBNC) to Post Quarterly Earnings on Wednesday

First Bancorp (NASDAQ:FBNC) is expected to announce its results before the market opens on Wednesday, July 22nd. Analysts expect First Bancorp to announce earnings of $1.15 per share and revenue of $126.07 million for the quarter.

First Bancorp (NASDAQ:FBNC) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. First Bancorp had a net margin of 20.59% and a return on equity of 10.86%. The firm had revenue of $122.29 million during the quarter, compared to analyst estimates of $123.20 million. On average, analysts expect First Bancorp to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

First Bancorp Price Performance

FBNC stock opened at $64.43 on Monday. First Bancorp has a 52 week low of $45.04 and a 52 week high of $66.54. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 21.99 and a beta of 0.80. The firm’s 50-day moving average is $61.00 and its two-hundred day moving average is $58.54. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.04.

First Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, June 30th. First Bancorp’s dividend payout ratio (DPR) is currently 32.76%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FBNC shares. Raymond James Financial upped their target price on First Bancorp from $68.00 to $75.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Keefe, Bruyette & Woods increased their price target on First Bancorp from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Brean Capital started coverage on First Bancorp in a research report on Monday, June 8th. They set a “neutral” rating and a $65.75 price target on the stock. Finally, Weiss Ratings raised First Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.55.

Insider Activity at First Bancorp

In related news, Director Michael Goodwin Mayer sold 44,324 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $58.58, for a total value of $2,596,499.92. Following the sale, the director directly owned 41,491 shares in the company, valued at $2,430,542.78. The trade was a 51.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.04% of the stock is owned by insiders.

Institutional Trading of First Bancorp

A number of large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its stake in First Bancorp by 2,222.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 720 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 689 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in First Bancorp by 87.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 819 shares of the financial services provider’s stock worth $42,000 after buying an additional 381 shares during the period. Quadrant Capital Group LLC purchased a new stake in First Bancorp during the third quarter valued at about $188,000. BNP Paribas Financial Markets lifted its stake in First Bancorp by 47.6% during the second quarter. BNP Paribas Financial Markets now owns 4,321 shares of the financial services provider’s stock valued at $191,000 after buying an additional 1,393 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in First Bancorp by 157.4% during the second quarter. Tower Research Capital LLC TRC now owns 4,481 shares of the financial services provider’s stock valued at $198,000 after buying an additional 2,740 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

First Bancorp Company Profile

First Bancorp operates as the bank holding company for First Bank, offering a broad range of commercial and consumer banking services. Its core offerings include business lending, treasury and cash management, residential and commercial mortgage financing, and consumer deposit products. Through its subsidiary, First Bank provides online and branch-based banking solutions, including checking and savings accounts, certificate of deposits, and digital banking tools designed to meet the needs of individuals, small- to mid-sized businesses, and professional institutions.

The company maintains a network of full-service banking centers and loan production offices across North Carolina and South Carolina, with a focus on markets in the Piedmont, Sandhills and coastal regions.