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

FBNC has been the subject of a number of analyst reports. DA Davidson cut shares of First Bancorp from a "buy" rating to a "neutral" rating and cut their price target for the stock from $43.00 to $42.00 in a research note on Monday, August 1st. Raymond James raised their price target on shares of First Bancorp from $40.00 to $43.00 and gave the stock an "outperform" rating in a research note on Monday, August 1st.

First Bancorp Price Performance

Shares of NASDAQ:FBNC traded up $0.53 during mid-day trading on Friday, hitting $37.91. 82,949 shares of the stock were exchanged, compared to its average volume of 131,116. The company has a market cap of $1.35 billion, a P/E ratio of 11.66 and a beta of 1.15. The stock's fifty day simple moving average is $35.76 and its two-hundred day simple moving average is $39.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.70 and a current ratio of 0.71. First Bancorp has a twelve month low of $32.90 and a twelve month high of $50.92.

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

First Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 25th. Investors of record on Thursday, June 30th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Wednesday, June 29th. First Bancorp's dividend payout ratio is currently 27.08%.

Insider Activity at First Bancorp

In related news, Director Carlie C. Mclamb, Jr. purchased 1,238 shares of the 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 completion of the acquisition, the director now directly owns 21,838 shares in the company, valued at approximately $785,949.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Carlie C. Mclamb, Jr. purchased 1,238 shares of the 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 completion of the acquisition, the director now directly owns 21,838 shares in the company, valued at approximately $785,949.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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, with a total value of $33,840.94. Following the acquisition, 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. 1.90% of the stock is currently owned by company insiders.