Wall Street brokerages predict that First Bancorp (NASDAQ:FBNC) will report $0.57 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for First Bancorp’s earnings, with the lowest EPS estimate coming in at $0.51 and the highest estimate coming in at $0.61. First Bancorp reported earnings per share of $0.41 in the same quarter last year, which would suggest a positive year over year growth rate of 39%. The business is scheduled to report its next quarterly earnings results on Thursday, April 26th.

On average, analysts expect that First Bancorp will report full year earnings of $2.64 per share for the current year, with EPS estimates ranging from $2.34 to $2.86. For the next year, analysts forecast that the firm will post earnings of $2.91 per share, with EPS estimates ranging from $2.80 to $2.97. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for First Bancorp.

Several brokerages have issued reports on FBNC. Brean Capital reissued a “buy” rating on shares of First Bancorp in a research note on Monday, February 5th. Piper Jaffray Companies reissued a “buy” rating and set a $42.00 target price on shares of First Bancorp in a research note on Tuesday, January 9th. Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, January 3rd. ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $41.00 target price on shares of First Bancorp in a research note on Friday, December 22nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. First Bancorp presently has an average rating of “Buy” and an average price target of $39.50.

In related news, CEO Richard H. Moore purchased 2,755 shares of the stock in a transaction dated Wednesday, December 20th. The shares were acquired at an average cost of $36.00 per share, for a total transaction of $99,180.00. Following the acquisition, the chief executive officer now directly owns 121,741 shares in the company, valued at approximately $4,382,676. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suzanne S. Deferie sold 12,001 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $35.67, for a total transaction of $428,075.67. Following the transaction, the insider now owns 113,408 shares in the company, valued at $4,045,263.36. The disclosure for this sale can be found here. Insiders own 2.37% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of First Bancorp during the 3rd quarter valued at $107,000. Acadian Asset Management LLC bought a new stake in First Bancorp during the fourth quarter valued at about $125,000. Meeder Asset Management Inc. boosted its holdings in First Bancorp by 516.0% during the fourth quarter. Meeder Asset Management Inc. now owns 6,074 shares of the financial services provider’s stock valued at $214,000 after acquiring an additional 5,088 shares during the period. Teacher Retirement System of Texas bought a new stake in First Bancorp during the fourth quarter valued at about $320,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in First Bancorp during the fourth quarter valued at about $399,000. Institutional investors and hedge funds own 56.53% of the company’s stock.

Shares of First Bancorp (NASDAQ:FBNC) traded up $0.44 during trading hours on Monday, reaching $34.78. 162,200 shares of the company’s stock traded hands, compared to its average volume of 101,212. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.05 and a current ratio of 1.05. First Bancorp has a 52 week low of $27.50 and a 52 week high of $41.76. The firm has a market cap of $1,030.86, a P/E ratio of 19.32, a P/E/G ratio of 0.99 and a beta of 1.12.

The business also recently declared a quarterly dividend, which was paid on Thursday, January 25th. Stockholders of record on Sunday, December 31st were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, December 28th. First Bancorp’s dividend payout ratio is currently 17.78%.

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First Bancorp Company Profile

First Bancorp is the bank holding company for First Bank (the Bank). The Company’s principal activity is the ownership and operation of First Bank. The Bank engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Bank offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.

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

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