Equities analysts expect First Bancorp (NASDAQ:FBNC) to post earnings per share of $0.78 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for First Bancorp’s earnings, with the highest EPS estimate coming in at $0.79 and the lowest estimate coming in at $0.77. First Bancorp posted earnings of $0.80 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.5%. The firm is expected to report its next quarterly earnings results on Wednesday, January 22nd.
According to Zacks, analysts expect that First Bancorp will report full year earnings of $3.16 per share for the current fiscal year, with EPS estimates ranging from $3.12 to $3.20. For the next year, analysts expect that the company will report earnings of $3.07 per share, with EPS estimates ranging from $2.95 to $3.20. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow First Bancorp.
First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.04. First Bancorp had a net margin of 30.74% and a return on equity of 12.05%. The firm had revenue of $69.41 million during the quarter, compared to analyst estimates of $71.49 million.
A number of research analysts have recently commented on the company. Zacks Investment Research raised First Bancorp from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Tuesday, October 29th. ValuEngine raised First Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, BidaskClub raised First Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. First Bancorp currently has a consensus rating of “Buy” and an average target price of $40.50.
Shares of FBNC traded up $0.31 during mid-day trading on Tuesday, reaching $38.82. The stock had a trading volume of 75,900 shares, compared to its average volume of 87,333. First Bancorp has a 52-week low of $30.50 and a 52-week high of $40.47. The business’s fifty day moving average is $36.67 and its 200 day moving average is $36.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.97 and a quick ratio of 0.96. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 3.73 and a beta of 1.10.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, September 30th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, September 27th. First Bancorp’s payout ratio is presently 15.95%.
Several large investors have recently made changes to their positions in FBNC. Campbell & CO Investment Adviser LLC acquired a new stake in shares of First Bancorp during the 2nd quarter worth approximately $200,000. Bessemer Group Inc. lifted its position in shares of First Bancorp by 124.3% during the 2nd quarter. Bessemer Group Inc. now owns 71,900 shares of the financial services provider’s stock worth $2,619,000 after buying an additional 39,849 shares during the period. Bowling Portfolio Management LLC lifted its position in shares of First Bancorp by 48.0% during the 2nd quarter. Bowling Portfolio Management LLC now owns 39,337 shares of the financial services provider’s stock worth $1,433,000 after buying an additional 12,752 shares during the period. Creative Planning lifted its position in shares of First Bancorp by 2.9% during the 2nd quarter. Creative Planning now owns 14,182 shares of the financial services provider’s stock worth $517,000 after buying an additional 400 shares during the period. Finally, Aperio Group LLC bought a new position in shares of First Bancorp during the 2nd quarter worth approximately $204,000. 65.77% of the stock is currently owned by institutional investors.
About First Bancorp
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 certificates of deposit and individual retirement accounts.
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