Analysts expect First Bancorp (NASDAQ:FBNC) to report $69.62 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for First Bancorp’s earnings. The lowest sales estimate is $69.54 million and the highest is $69.70 million. First Bancorp posted sales of $67.34 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.4%. The business is expected to report its next earnings results on Tuesday, July 23rd.
According to Zacks, analysts expect that First Bancorp will report full year sales of $281.07 million for the current year, with estimates ranging from $278.00 million to $284.00 million. For the next financial year, analysts anticipate that the firm will report sales of $293.60 million, with estimates ranging from $289.70 million to $300.00 million. Zacks’ sales calculations are an average based on a survey of research firms that cover First Bancorp.
First Bancorp (NASDAQ:FBNC) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.04. The firm had revenue of $68.24 million during the quarter, compared to the consensus estimate of $67.41 million. First Bancorp had a return on equity of 12.04% and a net margin of 30.44%.
A number of research analysts have weighed in on the company. BidaskClub upgraded First Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Gabelli upgraded First Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Thursday, April 25th. Zacks Investment Research upgraded First Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Sandler O’Neill upgraded First Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. Finally, Brean Capital restated a “buy” rating on shares of First Bancorp in a research note on Monday, March 18th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. First Bancorp currently has an average rating of “Buy” and an average price target of $41.80.
Hedge funds and other institutional investors have recently modified their holdings of the company. Quantamental Technologies LLC bought a new position in shares of First Bancorp during the 4th quarter worth approximately $33,000. Private Capital Group LLC boosted its stake in shares of First Bancorp by 174.0% during the 4th quarter. Private Capital Group LLC now owns 1,277 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 811 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of First Bancorp by 81.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,287 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 1,029 shares during the period. Semmax Financial Advisors Inc. bought a new position in shares of First Bancorp during the 4th quarter worth approximately $149,000. Finally, Legal & General Group Plc boosted its stake in shares of First Bancorp by 23.9% during the 4th quarter. Legal & General Group Plc now owns 5,705 shares of the financial services provider’s stock worth $186,000 after acquiring an additional 1,102 shares during the period. Institutional investors own 66.39% of the company’s stock.
FBNC stock traded down $0.29 during mid-day trading on Wednesday, reaching $36.79. The company had a trading volume of 52,400 shares, compared to its average volume of 99,916. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 0.52. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 2.72 and a beta of 1.26. First Bancorp has a 52 week low of $30.50 and a 52 week high of $43.14.
First Bancorp Company Profile
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 certificates of deposit and individual retirement accounts.
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