First Bancorp (NASDAQ:FBNC) – Analysts at Piper Sandler reduced their Q4 2021 earnings estimates for shares of First Bancorp in a research report issued to clients and investors on Tuesday, October 12th. Piper Sandler analyst S. Scouten now expects that the financial services provider will post earnings per share of $0.40 for the quarter, down from their prior estimate of $0.41. Piper Sandler has a “Neutral” rating and a $52.00 price objective on the stock. Piper Sandler also issued estimates for First Bancorp’s FY2023 earnings at $3.70 EPS.
Separately, Zacks Investment Research cut shares of First Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $49.50.
First Bancorp (NASDAQ:FBNC) last posted its quarterly earnings data on Monday, July 26th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.92 by $0.12. The business had revenue of $80.13 million for the quarter, compared to analysts’ expectations of $74.57 million. First Bancorp had a net margin of 32.57% and a return on equity of 11.75%.
Large investors have recently made changes to their positions in the business. William Blair Investment Management LLC acquired a new position in shares of First Bancorp during the 2nd quarter worth approximately $68,000. Mutual of America Capital Management LLC lifted its holdings in shares of First Bancorp by 6.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 3,806 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 235 shares during the period. Captrust Financial Advisors lifted its holdings in shares of First Bancorp by 13.9% during the 1st quarter. Captrust Financial Advisors now owns 4,284 shares of the financial services provider’s stock worth $187,000 after acquiring an additional 522 shares during the period. Squarepoint Ops LLC bought a new stake in shares of First Bancorp during the 1st quarter worth approximately $203,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of First Bancorp during the 1st quarter worth approximately $222,000. Hedge funds and other institutional investors own 76.68% of the company’s stock.
In related news, Director Dexter V. Perry purchased 650 shares of the firm’s stock in a transaction that occurred on Monday, September 20th. The shares were acquired at an average price of $39.00 per share, for a total transaction of $25,350.00. Following the purchase, the director now owns 650 shares in the company, valued at $25,350. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.28% of the stock is currently owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 25th. Investors of record on Thursday, September 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $0.80 dividend on an annualized basis and a yield of 1.66%. First Bancorp’s dividend payout ratio (DPR) is currently 30.89%.
First Bancorp Company Profile
First Bancorp operates as a bank holding company, which engages banking activities, with the acceptance of deposits and the making of loans. It provides range of deposit products such as checking, savings, NOW and money market accounts, as well as time deposits, including various types of certificates of deposits CDs and individual retirement accounts.
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