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 NASDAQ:FBNC traded up $0.18 during trading hours on Monday, reaching $38.09. The stock had a trading volume of 2,825 shares, compared to its average volume of 154,163. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 11.66 and a beta of 1.15. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.06. First Bancorp has a fifty-two week low of $32.90 and a fifty-two week high of $50.92. The firm has a 50-day moving average of $35.76 and a 200-day moving average of $39.13.

First Bancorp (NASDAQ:FBNC - Get Rating) last announced its earnings results on Wednesday, July 27th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict that First Bancorp will post 3.73 earnings per share for the current year.

First Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Wednesday, June 29th. First Bancorp's dividend payout ratio is presently 27.08%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. DA Davidson cut First Bancorp from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $43.00 to $42.00 in a research report on Monday, August 1st. Raymond James upped their price objective on First Bancorp from $40.00 to $43.00 and gave the stock an "outperform" rating in a research report on Monday, August 1st.

Insider Buying and Selling at First Bancorp

In related news, Director Dexter V. Perry acquired 973 shares of First Bancorp stock in a transaction on Wednesday, June 29th. The stock was purchased at an average cost of $34.78 per share, with a total value of $33,840.94. Following the purchase, the director now directly owns 3,485 shares in the company, valued at $121,208.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by company insiders.