$0.74 EPS Expected for First Bancorp (FBNC) This Quarter

Equities research analysts forecast that First Bancorp (NASDAQ:FBNC) will announce $0.74 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for First Bancorp’s earnings. The lowest EPS estimate is $0.72 and the highest is $0.75. First Bancorp reported earnings of $0.44 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 68.2%. The company is expected to report its next quarterly earnings report on Monday, February 4th.

According to Zacks, analysts expect that First Bancorp will report full year earnings of $3.03 per share for the current financial year, with EPS estimates ranging from $3.00 to $3.06. For the next year, analysts expect that the firm will report earnings of $3.02 per share, with EPS estimates ranging from $2.96 to $3.05. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for First Bancorp.

First Bancorp (NASDAQ:FBNC) last posted its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.74 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.74. The business had revenue of $67.22 million during the quarter, compared to the consensus estimate of $67.43 million. First Bancorp had a net margin of 27.88% and a return on equity of 11.06%.

Several equities analysts have commented on FBNC shares. Raymond James downgraded shares of First Bancorp from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 10th. Sandler O’Neill downgraded shares of First Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Piper Jaffray Companies boosted their price target on shares of First Bancorp from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Brean Capital restated a “buy” rating on shares of First Bancorp in a research note on Monday, July 30th. Finally, BidaskClub downgraded shares of First Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, September 14th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $42.75.

In other news, CEO Richard H. Moore bought 1,250 shares of the stock in a transaction that occurred on Wednesday, September 19th. The stock was purchased at an average price of $39.79 per share, for a total transaction of $49,737.50. Following the completion of the purchase, the chief executive officer now owns 139,935 shares in the company, valued at approximately $5,568,013.65. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Suzanne S. Deferie bought 5,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were purchased at an average price of $39.80 per share, with a total value of $199,000.00. Following the purchase, the insider now owns 132,545 shares of the company’s stock, valued at approximately $5,275,291. The disclosure for this purchase can be found here. Insiders own 1.89% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd boosted its stake in First Bancorp by 14.7% in the third quarter. WINTON GROUP Ltd now owns 29,644 shares of the financial services provider’s stock valued at $1,201,000 after acquiring an additional 3,805 shares in the last quarter. Wells Fargo & Company MN boosted its stake in First Bancorp by 5.8% in the third quarter. Wells Fargo & Company MN now owns 96,222 shares of the financial services provider’s stock valued at $3,898,000 after acquiring an additional 5,273 shares in the last quarter. Private Advisor Group LLC acquired a new position in First Bancorp in the third quarter valued at $277,000. Sterling Capital Management LLC acquired a new position in First Bancorp in the third quarter valued at $1,122,000. Finally, Victory Capital Management Inc. boosted its stake in First Bancorp by 5.4% in the third quarter. Victory Capital Management Inc. now owns 44,241 shares of the financial services provider’s stock valued at $1,792,000 after acquiring an additional 2,271 shares in the last quarter. Hedge funds and other institutional investors own 64.96% of the company’s stock.

Shares of NASDAQ:FBNC traded up $0.30 during trading on Friday, hitting $37.66. The company’s stock had a trading volume of 71,152 shares, compared to its average volume of 172,979. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 1.05 and a beta of 1.03. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.56. First Bancorp has a fifty-two week low of $33.88 and a fifty-two week high of $43.14.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 25th. Investors of record on Sunday, September 30th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.06%. First Bancorp’s payout ratio is currently 21.62%.

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

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