First Bancorp (FBNC) To Go Ex-Dividend on June 30th

First Bancorp (NASDAQ:FBNC) declared a quarterly dividend on Friday, June 12th. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.24 per share by the financial services provider on Friday, July 24th. This represents a c) annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, June 30th.

First Bancorp has raised its dividend by an average of 0.0%per year over the last three years. First Bancorp has a dividend payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Bancorp to earn $4.92 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 19.5%.

First Bancorp Stock Performance

FBNC opened at $61.78 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average price is $58.64 and its two-hundred day moving average price is $56.57. First Bancorp has a 1-year low of $40.00 and a 1-year high of $62.64. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 21.09 and a beta of 0.81.

First Bancorp (NASDAQ:FBNC) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. First Bancorp had a net margin of 20.59% and a return on equity of 10.86%. The firm had revenue of $122.29 million for the quarter, compared to the consensus estimate of $123.21 million. On average, analysts expect that First Bancorp will post 4.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Weiss Ratings raised shares of First Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 18th. Wall Street Zen upgraded shares of First Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Zacks Research upgraded shares of First Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Brean Capital assumed coverage on shares of First Bancorp in a report on Monday, June 8th. They issued a “neutral” rating and a $65.75 target price for the company. Finally, Keefe, Bruyette & Woods increased their target price on shares of First Bancorp from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.95.

First Bancorp Company Profile

First Bancorp operates as the bank holding company for First Bank, offering a broad range of commercial and consumer banking services. Its core offerings include business lending, treasury and cash management, residential and commercial mortgage financing, and consumer deposit products. Through its subsidiary, First Bank provides online and branch-based banking solutions, including checking and savings accounts, certificate of deposits, and digital banking tools designed to meet the needs of individuals, small- to mid-sized businesses, and professional institutions.

The company maintains a network of full-service banking centers and loan production offices across North Carolina and South Carolina, with a focus on markets in the Piedmont, Sandhills and coastal regions.