Zacks: Brokerages Expect First Bancorp (FBNC) Will Post Earnings of $0.71 Per Share
Equities analysts predict that First Bancorp (NASDAQ:FBNC) will announce earnings of $0.71 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for First Bancorp’s earnings. First Bancorp reported earnings per share of $0.70 in the same quarter last year, which suggests a positive year-over-year growth rate of 1.4%. The company is expected to report its next quarterly earnings report on Tuesday, April 23rd.
On average, analysts expect that First Bancorp will report full-year earnings of $2.97 per share for the current fiscal year, with EPS estimates ranging from $2.82 to $3.10. For the next year, analysts expect that the company will report earnings of $3.13 per share, with EPS estimates ranging from $3.00 to $3.25. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover First Bancorp.
First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $68.25 million for the quarter, compared to analyst estimates of $68.41 million. First Bancorp had a net margin of 30.47% and a return on equity of 12.32%.
Shares of FBNC traded up $0.30 during trading hours on Monday, reaching $37.91. 1,630 shares of the company traded hands, compared to its average volume of 120,280. The firm has a market capitalization of $1.12 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 2.58 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.04 and a quick ratio of 1.04. First Bancorp has a 12-month low of $30.50 and a 12-month high of $43.14.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Sunday, March 31st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, March 28th. This is an increase from First Bancorp’s previous quarterly dividend of $0.10. First Bancorp’s dividend payout ratio is 13.29%.
In related news, CEO Richard H. Moore purchased 3,200 shares of First Bancorp stock in a transaction that occurred on Wednesday, December 26th. The stock was purchased at an average price of $31.35 per share, for a total transaction of $100,320.00. Following the transaction, the chief executive officer now directly owns 143,135 shares in the company, valued at $4,487,282.25. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 2.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in FBNC. Vaughan Nelson Investment Management L.P. acquired a new stake in First Bancorp in the 4th quarter valued at about $34,515,000. Northern Trust Corp raised its holdings in First Bancorp by 62.9% in the 2nd quarter. Northern Trust Corp now owns 556,939 shares of the financial services provider’s stock valued at $22,784,000 after acquiring an additional 215,043 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in First Bancorp by 56.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 533,827 shares of the financial services provider’s stock valued at $21,625,000 after acquiring an additional 191,693 shares during the last quarter. BlackRock Inc. raised its holdings in First Bancorp by 9.7% in the 3rd quarter. BlackRock Inc. now owns 2,112,497 shares of the financial services provider’s stock valued at $85,579,000 after acquiring an additional 187,396 shares during the last quarter. Finally, Rothschild & Co. Asset Management US Inc. acquired a new stake in First Bancorp in the 3rd quarter valued at about $6,139,000. Institutional investors own 69.88% of the company’s stock.
First Bancorp Company Profile
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 deposits and individual retirement accounts.
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