First Bancorp (FBNC) To Go Ex-Dividend on March 31st

First Bancorp (NASDAQ:FBNC) announced a quarterly dividend on Tuesday, January 28th, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.22 per share by the financial services provider on Friday, April 25th. This represents a $0.88 annualized dividend and a yield of 2.18%. The ex-dividend date is Monday, March 31st.

First Bancorp has increased its dividend payment by an average of 3.2% per year over the last three years. First Bancorp has a payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Bancorp to earn $3.48 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 25.3%.

First Bancorp Price Performance

Shares of NASDAQ:FBNC opened at $40.33 on Friday. First Bancorp has a 52 week low of $29.53 and a 52 week high of $50.34. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average is $42.17 and its 200 day moving average is $43.42. The stock has a market cap of $1.67 billion, a PE ratio of 21.92 and a beta of 1.04.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. First Bancorp had a return on equity of 8.04% and a net margin of 14.19%. Research analysts anticipate that First Bancorp will post 3.27 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on FBNC. Stephens started coverage on shares of First Bancorp in a research report on Wednesday. They set an “overweight” rating and a $48.00 price target for the company. Keefe, Bruyette & Woods increased their target price on shares of First Bancorp from $49.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Janney Montgomery Scott downgraded First Bancorp from a “buy” rating to a “neutral” rating in a report on Friday, February 7th.

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. The company accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts.