First Bancorp (NASDAQ:FBNC) – Analysts at Gabelli dropped their FY2016 earnings per share estimates for First Bancorp in a report released on Monday. Gabelli analyst S. Comery now anticipates that the firm will post earnings per share of $1.10 for the year, down from their prior estimate of $1.15.
First Bancorp (NASDAQ:FBNC) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.03. First Bancorp had a return on equity of 8.29% and a net margin of 18.91%.
FBNC has been the subject of several other reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $24.00 price target on shares of First Bancorp in a report on Tuesday, August 23rd. Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. First Bancorp has an average rating of “Hold” and an average target price of $22.17.
Shares of First Bancorp (NASDAQ:FBNC) opened at 19.84 on Tuesday. The stock’s 50 day moving average price is $19.57 and its 200-day moving average price is $19.19. The firm has a market capitalization of $398.53 million, a PE ratio of 14.46 and a beta of 1.09. First Bancorp has a 52-week low of $16.01 and a 52-week high of $21.94.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Friday, September 30th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.32 annualized dividend and a yield of 1.61%. First Bancorp’s payout ratio is currently 23.36%.
In related news, Director James C. Crawford III bought 2,000 shares of the stock in a transaction on Monday, August 15th. The shares were bought at an average cost of $18.63 per share, for a total transaction of $37,260.00. Following the completion of the transaction, the director now owns 59,777 shares of the company’s stock, valued at approximately $1,113,645.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.37% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. RMB Capital Management LLC raised its position in shares of First Bancorp by 9.6% in the first quarter. RMB Capital Management LLC now owns 114,413 shares of the financial services provider’s stock valued at $2,157,000 after buying an additional 10,000 shares during the last quarter. Oak Associates Ltd. OH raised its position in shares of First Bancorp by 0.9% in the first quarter. Oak Associates Ltd. OH now owns 57,275 shares of the financial services provider’s stock valued at $1,080,000 after buying an additional 530 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of First Bancorp by 7.7% in the first quarter. UBS Asset Management Americas Inc. now owns 13,458 shares of the financial services provider’s stock valued at $254,000 after buying an additional 958 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of First Bancorp by 2.5% in the first quarter. Renaissance Technologies LLC now owns 205,700 shares of the financial services provider’s stock valued at $3,877,000 after buying an additional 5,094 shares during the last quarter. Finally, Menta Capital LLC raised its position in shares of First Bancorp by 12.5% in the first quarter. Menta Capital LLC now owns 15,473 shares of the financial services provider’s stock valued at $292,000 after buying an additional 1,720 shares during the last quarter. Institutional investors own 53.16% of the company’s stock.
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 Company engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Company offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.
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