First Bancorp (NASDAQ:FBNC) declared a quarterly dividend on Friday, September 16th. Stockholders of record on Friday, September 30th will be paid a dividend of 0.08 per share by the financial services provider on Tuesday, October 25th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Wednesday, September 28th.
First Bancorp (NASDAQ:FBNC) opened at 19.66 on Tuesday. The stock’s 50 day moving average price is $19.50 and its 200-day moving average price is $19.18. The company has a market capitalization of $394.91 million, a P/E ratio of 14.33 and a beta of 1.09. First Bancorp has a one year low of $16.01 and a one year high of $21.94.
First Bancorp (NASDAQ:FBNC) last issued its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that First Bancorp will post $1.32 EPS for the current year.
In other news, Director James C. Crawford III acquired 2,000 shares of First Bancorp 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 acquisition, the director now directly owns 59,777 shares of the company’s stock, valued at approximately $1,113,645.51. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.37% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. increased its position in First Bancorp by 61.2% in the second quarter. Panagora Asset Management Inc. now owns 8,320 shares of the financial services provider’s stock valued at $146,000 after buying an additional 3,159 shares during the last quarter. Bridgeway Capital Management Inc. increased its position in First Bancorp by 35.4% in the second quarter. Bridgeway Capital Management Inc. now owns 249,627 shares of the financial services provider’s stock valued at $4,388,000 after buying an additional 65,256 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in First Bancorp by 0.6% in the second quarter. Parametric Portfolio Associates LLC now owns 48,154 shares of the financial services provider’s stock valued at $847,000 after buying an additional 299 shares during the last quarter. Menta Capital LLC increased its position in shares of First Bancorp by 11.6% in the second quarter. Menta Capital LLC now owns 17,273 shares of the financial services provider’s stock worth $304,000 after buying an additional 1,800 shares in the last quarter. Finally, Teachers Advisors Inc. increased its position in shares of First Bancorp by 25.5% in the second quarter. Teachers Advisors Inc. now owns 36,762 shares of the financial services provider’s stock worth $646,000 after buying an additional 7,472 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a “buy” rating and set a $24.00 price target on shares of First Bancorp in a research note on Tuesday, August 23rd. Zacks Investment Research upgraded First Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Tuesday, July 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $22.17.
About First Bancorp
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.
Receive News & Ratings for First Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.