Equities research analysts expect that First Bancorp (NASDAQ:FBNC) will announce earnings of $0.43 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for First Bancorp’s earnings, with estimates ranging from $0.43 to $0.44. First Bancorp reported earnings per share of $0.37 in the same quarter last year, which would indicate a positive year over year growth rate of 16.2%. The company is expected to issue its next earnings report on Tuesday, July 25th.
According to Zacks, analysts expect that First Bancorp will report full year earnings of $1.79 per share for the current financial year, with EPS estimates ranging from $1.75 to $1.82. For the next financial year, analysts anticipate that the company will report earnings of $2.14 per share, with EPS estimates ranging from $2.10 to $2.25. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow First Bancorp.
A number of brokerages have commented on FBNC. ValuEngine upgraded First Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research cut First Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, March 29th. Finally, Brean Capital began coverage on First Bancorp in a research note on Friday. They issued a “buy” rating and a $33.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $29.50.
In other First Bancorp news, insider Eric P. Credle purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were acquired at an average price of $29.89 per share, for a total transaction of $29,890.00. Following the completion of the purchase, the insider now owns 26,674 shares in the company, valued at approximately $797,285.86. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders purchased 3,222 shares of company stock worth $93,519. Insiders own 2.37% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dalton Greiner Hartman Maher & Co. boosted its position in First Bancorp by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 73,448 shares of the financial services provider’s stock valued at $2,151,000 after buying an additional 273 shares during the period. First Trust Advisors LP boosted its position in First Bancorp by 0.6% in the first quarter. First Trust Advisors LP now owns 56,825 shares of the financial services provider’s stock valued at $1,664,000 after buying an additional 321 shares during the period. Martin & Co. Inc. TN boosted its position in First Bancorp by 0.9% in the third quarter. Martin & Co. Inc. TN now owns 38,775 shares of the financial services provider’s stock valued at $767,000 after buying an additional 350 shares during the period. American International Group Inc. boosted its position in First Bancorp by 7.0% in the first quarter. American International Group Inc. now owns 12,110 shares of the financial services provider’s stock valued at $355,000 after buying an additional 791 shares during the period. Finally, Teachers Advisors LLC boosted its position in First Bancorp by 1.9% in the first quarter. Teachers Advisors LLC now owns 46,900 shares of the financial services provider’s stock valued at $1,374,000 after buying an additional 876 shares during the period. Institutional investors and hedge funds own 53.02% of the company’s stock.
First Bancorp (NASDAQ:FBNC) traded up 6.26% during midday trading on Wednesday, reaching $30.91. The company’s stock had a trading volume of 175,707 shares. The company has a 50 day moving average of $29.26 and a 200-day moving average of $28.64. The company has a market capitalization of $762.06 million, a P/E ratio of 23.15 and a beta of 1.10. First Bancorp has a 1-year low of $17.15 and a 1-year high of $32.27.
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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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