First Bancorp (NASDAQ:FBNC) Expected to Announce Earnings of $0.76 Per Share

Equities research analysts expect that First Bancorp (NASDAQ:FBNC) will announce earnings per share of $0.76 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for First Bancorp’s earnings. The highest EPS estimate is $0.77 and the lowest is $0.75. First Bancorp posted earnings per share of $0.77 in the same quarter last year, which indicates a negative year over year growth rate of 1.3%. The business is scheduled to issue its next earnings results on Tuesday, July 23rd.

On average, analysts expect that First Bancorp will report full-year earnings of $3.08 per share for the current fiscal year, with EPS estimates ranging from $3.03 to $3.12. For the next financial year, analysts forecast that the company will report earnings of $3.08 per share, with EPS estimates ranging from $2.90 to $3.16. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow First Bancorp.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.04. The business had revenue of $68.24 million for the quarter, compared to analyst estimates of $67.41 million. First Bancorp had a return on equity of 12.04% and a net margin of 30.44%.

Several analysts have recently commented on the company. Zacks Investment Research raised General Moly from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. BidaskClub raised WhiteHorse Finance from a “sell” rating to a “hold” rating in a research note on Thursday. Sandler O’Neill raised First Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. Gabelli reissued a “buy” rating on shares of T. Rowe Price Group in a research note on Thursday, April 25th. Finally, ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $41.40.

Shares of First Bancorp stock traded up $0.06 on Friday, hitting $35.18. The company had a trading volume of 53,619 shares, compared to its average volume of 88,172. The firm has a market capitalization of $1.05 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 2.60 and a beta of 1.19. First Bancorp has a 1 year low of $30.50 and a 1 year high of $43.14. The stock’s 50 day simple moving average is $36.02. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.99 and a quick ratio of 0.99.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Sunday, June 30th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, June 27th. First Bancorp’s dividend payout ratio (DPR) is presently 15.95%.

In related news, Director Thomas F. Phillips sold 2,250 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $35.58, for a total transaction of $80,055.00. Following the completion of the sale, the director now directly owns 84,212 shares of the company’s stock, valued at $2,996,262.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Clara Capel sold 1,000 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $35.50, for a total value of $35,500.00. Following the sale, the director now directly owns 15,009 shares of the company’s stock, valued at $532,819.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,250 shares of company stock valued at $151,855. Company insiders own 2.37% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in First Bancorp by 3.0% in the fourth quarter. BlackRock Inc. now owns 2,175,436 shares of the financial services provider’s stock worth $71,049,000 after purchasing an additional 62,939 shares during the period. Bank of New York Mellon Corp lifted its holdings in First Bancorp by 3.9% in the fourth quarter. Bank of New York Mellon Corp now owns 198,867 shares of the financial services provider’s stock worth $6,495,000 after purchasing an additional 7,483 shares during the period. Citigroup Inc. lifted its holdings in First Bancorp by 17.2% in the fourth quarter. Citigroup Inc. now owns 9,592 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 1,411 shares during the period. Dimensional Fund Advisors LP lifted its holdings in First Bancorp by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,513,497 shares of the financial services provider’s stock worth $49,431,000 after purchasing an additional 25,247 shares during the period. Finally, Natixis Advisors L.P. acquired a new stake in First Bancorp in the fourth quarter worth about $2,383,000. 65.97% of the stock is owned by institutional investors.

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 deposit and individual retirement accounts.

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

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