First Bancorp (NASDAQ:FBNC) Announces Quarterly Dividend of $0.24

First Bancorp (NASDAQ:FBNC) declared a quarterly dividend on Friday, June 12th. Investors of record on Tuesday, June 30th will be given a dividend of 0.24 per share by the financial services provider on Friday, July 24th. This represents a c) annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, June 30th.

First Bancorp has increased its dividend payment by an average of 0.0%per year over the last three years. First Bancorp has a payout ratio of 25.1% meaning its dividend is sufficiently covered by earnings. Analysts expect First Bancorp to earn $4.92 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 19.5%.

First Bancorp Trading Up 0.8%

NASDAQ:FBNC traded up $0.48 on Friday, hitting $61.78. 198,830 shares of the stock were exchanged, compared to its average volume of 229,194. The stock has a market cap of $2.56 billion, a PE ratio of 21.09 and a beta of 0.81. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average of $58.53 and a 200-day moving average of $56.53. First Bancorp has a fifty-two week low of $40.00 and a fifty-two week high of $62.64.

First Bancorp (NASDAQ:FBNC) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. The company had revenue of $122.29 million for the quarter, compared to the consensus estimate of $123.21 million. First Bancorp had a return on equity of 10.86% and a net margin of 20.59%. As a group, equities analysts expect that First Bancorp will post 4.67 earnings per share for the current fiscal year.

First Bancorp Company Profile

First Bancorp operates as the bank holding company for First Bank, offering a broad range of commercial and consumer banking services. Its core offerings include business lending, treasury and cash management, residential and commercial mortgage financing, and consumer deposit products. Through its subsidiary, First Bank provides online and branch-based banking solutions, including checking and savings accounts, certificate of deposits, and digital banking tools designed to meet the needs of individuals, small- to mid-sized businesses, and professional institutions.

The company maintains a network of full-service banking centers and loan production offices across North Carolina and South Carolina, with a focus on markets in the Piedmont, Sandhills and coastal regions.