First Bancorp - FBNC Stock Forecast, Price & News

First Bancorp operates as the bank holding company for First Bank that provides banking products and services for individuals and small to medium-sized businesses primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts. The company also offers loans for a range of consumer and commercial purposes comprising loans for business, real estate, personal, home improvement, and automobiles, as well as residential mortgages and small business administration loans; and accounts receivable financing and factoring, inventory financing, and purchase order financing services. In addition, it provides credit and debit cards, letter of credits, and safe deposit box rental services, as well as electronic funds transfer services consisting of wire transfers; and internet and mobile banking, cash management, bank-by-phone services, and remote deposit capture services. Further, the company offers investment and insurance products, such as mutual funds, annuities, long-term care insurance, life insurance, and company retirement plans, as well as property and casualty insurance products; and financial planning services. As of December 31, 2021, it operated 121 branches comprising 114 branch offices located in North Carolina and seven branches in South Carolina. First Bancorp was founded in 1934 and is headquartered in Southern Pines, North Carolina.

Wall Street Analyst Weigh In

A number of research analysts have commented on FBNC shares. Raymond James boosted their target price on First Bancorp from $40.00 to $43.00 and gave the company an "outperform" rating in a research note on Monday, August 1st. DA Davidson downgraded First Bancorp from a "buy" rating to a "neutral" rating and lowered their target price for the company from $43.00 to $42.00 in a research note on Monday, August 1st.

First Bancorp Stock Performance

Shares of NASDAQ:FBNC opened at $36.43 on Friday. First Bancorp has a one year low of $32.90 and a one year high of $50.92. The business's 50-day moving average price is $35.82 and its two-hundred day moving average price is $39.46. The company has a market capitalization of $1.30 billion, a P/E ratio of 11.21 and a beta of 1.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.71 and a quick ratio of 0.70.

First Bancorp (NASDAQ:FBNC - Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. First Bancorp had a return on equity of 11.20% and a net margin of 29.83%. Analysts anticipate that First Bancorp will post 3.73 earnings per share for the current fiscal year.

First Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 25th. Shareholders of record on Thursday, June 30th were given a $0.22 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.42%. First Bancorp's dividend payout ratio is currently 27.08%.

Insiders Place Their Bets

In related news, Director Carlie C. Mclamb, Jr. purchased 1,238 shares of First Bancorp stock in a transaction on Monday, May 16th. The stock was bought at an average price of $35.99 per share, with a total value of $44,555.62. Following the completion of the transaction, the director now directly owns 21,838 shares of the company's stock, valued at $785,949.62. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other First Bancorp news, Director Carlie C. Mclamb, Jr. acquired 1,238 shares of the business's stock in a transaction that occurred on Monday, May 16th. The stock was acquired at an average price of $35.99 per share, with a total value of $44,555.62. Following the transaction, the director now owns 21,838 shares of the company's stock, valued at $785,949.62. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dexter V. Perry acquired 973 shares of the business's stock in a transaction that occurred on Wednesday, June 29th. The shares were acquired at an average cost of $34.78 per share, with a total value of $33,840.94. Following the transaction, the director now directly owns 3,485 shares in the company, valued at approximately $121,208.30. The disclosure for this purchase can be found here. Insiders own 1.90% of the company's stock.