Equities Analysts Set Expectations for First Bancorp’s Q1 2018 Earnings (FBNC)

First Bancorp (NASDAQ:FBNC) – Investment analysts at FIG Partners boosted their Q1 2018 earnings estimates for shares of First Bancorp in a research report issued to clients and investors on Tuesday. FIG Partners analyst C. Marinac now expects that the financial services provider will post earnings of $0.59 per share for the quarter, up from their prior estimate of $0.51. FIG Partners also issued estimates for First Bancorp’s Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.70 EPS, Q4 2018 earnings at $0.69 EPS, Q1 2019 earnings at $0.68 EPS, Q2 2019 earnings at $0.72 EPS, Q3 2019 earnings at $0.74 EPS, Q4 2019 earnings at $0.74 EPS and FY2019 earnings at $2.88 EPS.

Several other equities research analysts have also recently issued reports on FBNC. Brean Capital reissued a “buy” rating on shares of First Bancorp in a research report on Monday, February 5th. Zacks Investment Research cut shares of First Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Stephens began coverage on shares of First Bancorp in a research report on Monday, December 4th. They issued an “equal weight” rating on the stock. ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, BidaskClub cut shares of First Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. First Bancorp has a consensus rating of “Buy” and a consensus price target of $39.50.

Shares of First Bancorp (FBNC) opened at $35.79 on Thursday. 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 stock has a market cap of $1,054.57, a P/E ratio of 19.44, a P/E/G ratio of 1.01 and a beta of 1.12.

A number of hedge funds and other institutional investors have recently bought and sold shares of FBNC. Wells Fargo & Company MN raised its holdings in First Bancorp by 15.6% in the second quarter. Wells Fargo & Company MN now owns 42,106 shares of the financial services provider’s stock valued at $1,317,000 after buying an additional 5,667 shares during the period. Alliancebernstein L.P. raised its holdings in First Bancorp by 62.1% in the second quarter. Alliancebernstein L.P. now owns 30,810 shares of the financial services provider’s stock valued at $963,000 after buying an additional 11,800 shares during the period. New York State Common Retirement Fund raised its holdings in First Bancorp by 29.7% in the second quarter. New York State Common Retirement Fund now owns 27,500 shares of the financial services provider’s stock valued at $860,000 after buying an additional 6,299 shares during the period. Northern Trust Corp raised its holdings in First Bancorp by 12.1% in the second quarter. Northern Trust Corp now owns 291,653 shares of the financial services provider’s stock valued at $9,116,000 after buying an additional 31,475 shares during the period. Finally, Vanguard Group Inc. raised its holdings in First Bancorp by 24.8% in the second quarter. Vanguard Group Inc. now owns 1,000,939 shares of the financial services provider’s stock valued at $31,290,000 after buying an additional 198,866 shares during the period. Hedge funds and other institutional investors own 56.68% of the company’s stock.

In related news, insider Suzanne S. Deferie sold 12,001 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $35.67, for a total value of $428,075.67. Following the transaction, the insider now owns 113,408 shares in the company, valued at $4,045,263.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard H. Moore purchased 2,755 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was acquired at an average price of $36.00 per share, for a total transaction of $99,180.00. Following the acquisition, the chief executive officer now directly owns 121,741 shares of the company’s stock, valued at approximately $4,382,676. The disclosure for this purchase can be found here. Company insiders own 1.89% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Sunday, December 31st were issued a $0.08 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.32 annualized dividend and a yield of 0.89%. 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.

Earnings History and Estimates for First Bancorp (NASDAQ:FBNC)

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