First Bancorp (NASDAQ:FBNC – Get Free Report) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11, Zacks reports. The company had revenue of $143.42 million for the quarter, compared to the consensus estimate of $94.00 million. First Bancorp had a net margin of 20.58% and a return on equity of 8.62%.
First Bancorp Price Performance
Shares of NASDAQ FBNC traded up $4.81 during midday trading on Thursday, reaching $44.15. The stock had a trading volume of 869,202 shares, compared to its average volume of 157,735. The stock has a 50-day moving average of $32.58 and a 200-day moving average of $33.48. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 16.10 and a beta of 1.03. First Bancorp has a 12-month low of $26.00 and a 12-month high of $45.41.
First Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Sunday, June 30th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.88 dividend on an annualized basis and a yield of 1.99%. First Bancorp’s dividend payout ratio is currently 31.77%.
Insider Transactions at First Bancorp
Analyst Ratings Changes
A number of analysts have commented on the stock. StockNews.com cut shares of First Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Keefe, Bruyette & Woods upped their target price on shares of First Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, First Bancorp currently has a consensus rating of “Hold” and a consensus target price of $37.00.
Read Our Latest Research Report on First Bancorp
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.
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