First Bancorp (NASDAQ:FBNC – Get Rating) – Equities researchers at DA Davidson cut their FY2022 earnings per share (EPS) estimates for shares of First Bancorp in a report released on Monday, August 1st. DA Davidson analyst K. Fitzsimmons now anticipates that the financial services provider will post earnings of $3.91 per share for the year, down from their previous forecast of $4.27. DA Davidson currently has a “Neutral” rating and a $42.00 price target on the stock. The consensus estimate for First Bancorp’s current full-year earnings is $3.73 per share. DA Davidson also issued estimates for First Bancorp’s FY2023 earnings at $4.07 EPS.
First Bancorp (NASDAQ:FBNC – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. First Bancorp had a return on equity of 11.20% and a net margin of 29.83%.
First Bancorp Trading Up 0.6 %
Shares of First Bancorp stock opened at $36.43 on Thursday. The business has a 50 day moving average price of $35.82 and a 200 day moving average price of $39.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.71 and a quick ratio of 0.70. The company has a market capitalization of $1.30 billion, a P/E ratio of 11.21 and a beta of 1.15. First Bancorp has a 1 year low of $32.90 and a 1 year high of $50.92.
First Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Stockholders of record on Thursday, June 30th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, June 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.42%. First Bancorp’s payout ratio is 27.08%.
Insider Transactions at First Bancorp
In other news, Director Carlie C. Mclamb, Jr. acquired 1,238 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was acquired at an average cost of $35.99 per share, for a total transaction of $44,555.62. Following the acquisition, the director now directly owns 21,838 shares in the company, valued at approximately $785,949.62. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other First Bancorp news, Director Dexter V. Perry purchased 973 shares of the firm’s stock in a transaction that occurred on Wednesday, June 29th. The stock was purchased at an average cost of $34.78 per share, with a total value of $33,840.94. Following the transaction, the director now owns 3,485 shares in the company, valued at $121,208.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlie C. Mclamb, Jr. purchased 1,238 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The shares were acquired at an average cost of $35.99 per share, with a total value of $44,555.62. Following the completion of the transaction, the director now owns 21,838 shares in the company, valued at approximately $785,949.62. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.
Institutional Trading of First Bancorp
Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in First Bancorp by 18.3% during the 4th quarter. Principal Financial Group Inc. now owns 230,184 shares of the financial services provider’s stock worth $10,524,000 after purchasing an additional 35,548 shares during the period. New York State Teachers Retirement System boosted its position in First Bancorp by 9.9% during the 4th quarter. New York State Teachers Retirement System now owns 9,955 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 900 shares during the period. SummerHaven Investment Management LLC boosted its position in First Bancorp by 4.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 21,832 shares of the financial services provider’s stock worth $912,000 after purchasing an additional 963 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in First Bancorp during the 4th quarter worth $883,000. Finally, New York State Common Retirement Fund boosted its position in First Bancorp by 9.6% in the 4th quarter. New York State Common Retirement Fund now owns 24,643 shares of the financial services provider’s stock valued at $1,127,000 after buying an additional 2,161 shares during the last quarter. 68.57% of the stock is owned by hedge funds and other 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 certificate of deposits and individual retirement accounts.
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