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.

First Bancorp Stock Performance

Shares of FBNC Stock traded up $0.22 during trading on Friday, reaching $36.43. 92,056 shares of the company's stock traded hands, compared to its average volume of 135,306. 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 current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.06. The firm's 50-day moving average is $35.82 and its 200 day moving average is $39.46. First Bancorp has a 1 year low of $32.90 and a 1 year high of $50.92.

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

First Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FBNC. DA Davidson downgraded shares of First Bancorp from a "buy" rating to a "neutral" rating and reduced their target price for the company from $43.00 to $42.00 in a research report on Monday, August 1st. Raymond James increased their target price on shares of First Bancorp from $40.00 to $43.00 and gave the company an "outperform" rating in a research report on Monday, August 1st.

Insiders Place Their Bets

In other news, Director Dexter V. Perry bought 973 shares of the stock in a transaction on Wednesday, June 29th. The shares were acquired at an average cost of $34.78 per share, for a total transaction of $33,840.94. Following the purchase, the director now directly owns 3,485 shares of the company's stock, valued at approximately $121,208.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Dexter V. Perry bought 973 shares of the stock in a transaction on Wednesday, June 29th. The shares were acquired at an average cost of $34.78 per share, for a total transaction of $33,840.94. Following the purchase, the director now directly owns 3,485 shares of the company's stock, valued at approximately $121,208.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carlie C. Mclamb, Jr. bought 1,238 shares of the stock in a transaction on Monday, May 16th. The stock was purchased at an average price of $35.99 per share, for a total transaction of $44,555.62. Following the completion of the purchase, the director now directly owns 21,838 shares in the company, valued at $785,949.62. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company's stock.