$0.78 EPS Expected for First Bancorp (NASDAQ:FBNC) This Quarter

Equities analysts expect First Bancorp (NASDAQ:FBNC) to announce $0.78 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. 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 indicates a negative year over year growth rate of 2.5%. The business is expected to announce its next earnings report 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 year, with EPS estimates ranging from $3.12 to $3.20. For the next year, analysts anticipate that the business will report earnings of $3.07 per share, with EPS estimates ranging from $2.95 to $3.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover First Bancorp.

First Bancorp (NASDAQ:FBNC) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.04. The company had revenue of $69.41 million during the quarter, compared to the consensus estimate of $71.49 million. First Bancorp had a return on equity of 12.05% and a net margin of 30.74%.

A number of brokerages recently issued reports on FBNC. BidaskClub upgraded shares of First Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Zacks Investment Research upgraded shares of First Bancorp from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Tuesday, October 29th. Finally, ValuEngine upgraded shares of First Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $40.50.

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Large investors have recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new position in First Bancorp in the second quarter worth about $77,000. SG Americas Securities LLC acquired a new position in First Bancorp in the third quarter worth about $112,000. Denali Advisors LLC acquired a new position in First Bancorp in the third quarter worth about $140,000. Meeder Asset Management Inc. raised its position in First Bancorp by 22.7% in the second quarter. Meeder Asset Management Inc. now owns 4,488 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 830 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in First Bancorp in the second quarter worth about $200,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:FBNC traded up $0.31 during midday trading on Tuesday, reaching $38.82. The company’s stock had a trading volume of 75,900 shares, compared to its average volume of 87,333. First Bancorp has a 1 year low of $30.50 and a 1 year high of $40.47. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 3.73 and a beta of 1.10. The business has a 50 day moving average price of $36.67 and a 200 day moving average price of $36.35.

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, September 30th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Friday, September 27th. First Bancorp’s payout ratio is presently 15.95%.

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

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