Analysts Anticipate First Bancorp (FBNC) Will Announce Quarterly Sales of $62.66 Million
Analysts expect First Bancorp (NASDAQ:FBNC) to post sales of $62.66 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for First Bancorp’s earnings, with the lowest sales estimate coming in at $61.80 million and the highest estimate coming in at $63.52 million. First Bancorp posted sales of $44.11 million during the same quarter last year, which suggests a positive year over year growth rate of 42.1%. The business is expected to report its next earnings report on Thursday, April 26th.
According to Zacks, analysts expect that First Bancorp will report full year sales of $62.66 million for the current year, with estimates ranging from $255.90 million to $264.66 million. For the next fiscal year, analysts forecast that the business will report sales of $282.95 million per share, with estimates ranging from $280.89 million to $285.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow First Bancorp.
FBNC has been the topic of several analyst reports. ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. BidaskClub lowered shares of First Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, December 21st. Brean Capital reissued a “buy” rating on shares of First Bancorp in a report on Tuesday, December 5th. Zacks Investment Research lowered shares of First Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $42.00 price target on shares of First Bancorp in a report on Tuesday, January 9th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. First Bancorp has an average rating of “Buy” and an average target price of $39.50.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Martin & Co. Inc. TN grew its holdings in shares of First Bancorp by 66.7% in the 4th quarter. Martin & Co. Inc. TN now owns 61,155 shares of the financial services provider’s stock worth $2,159,000 after purchasing an additional 24,460 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of First Bancorp in the 4th quarter worth about $453,000. Macquarie Group Ltd. grew its holdings in shares of First Bancorp by 6.3% in the 4th quarter. Macquarie Group Ltd. now owns 658,191 shares of the financial services provider’s stock worth $23,241,000 after purchasing an additional 39,147 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of First Bancorp in the 4th quarter worth about $284,000. Finally, Clark Capital Management Group Inc. bought a new stake in shares of First Bancorp in the 4th quarter worth about $1,907,000. 56.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of First Bancorp (FBNC) traded up $0.50 during trading on Wednesday, reaching $36.02. 58,292 shares of the company’s stock traded hands, compared to its average volume of 97,758. The company has a market cap of $1,052.79, a price-to-earnings ratio of 20.01, a PEG ratio of 1.01 and a beta of 1.12. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.05 and a quick ratio of 1.05. First Bancorp has a 12-month low of $27.50 and a 12-month high of $41.76.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Stockholders of record on Sunday, December 31st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Thursday, December 28th. First Bancorp’s payout ratio is 17.78%.
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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 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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