First Bancorp (NASDAQ:FBNC – Get Free Report) declared a quarterly dividend on Friday, June 12th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.24 per share by the financial services provider on Friday, July 24th. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, June 30th.
First Bancorp has raised its dividend payment by an average of 0.0%annually over the last three years. First Bancorp has a dividend payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. 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
First Bancorp stock traded up $0.48 during midday trading on Friday, hitting $61.78. The stock had a trading volume of 198,830 shares, compared to its average volume of 229,194. The firm’s fifty day moving average is $58.53 and its two-hundred day moving average is $56.53. The company has a market capitalization of $2.56 billion, a PE ratio of 21.09 and a beta of 0.81. First Bancorp has a 52-week low of $40.00 and a 52-week high of $62.64. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.04.
Wall Street Analyst Weigh In
FBNC has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their target price on shares of First Bancorp from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Weiss Ratings raised shares of First Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 18th. Brean Capital initiated coverage on shares of First Bancorp in a report on Monday. They set a “neutral” rating and a $65.75 price objective for the company. Zacks Research raised shares of First Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Finally, Wall Street Zen raised shares of First Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $62.95.
View Our Latest Stock Report on First Bancorp
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.
Read More
- Five stocks we like better than First Bancorp
- SpaceX Rings the Bell and Shatters Every Record
- Adobe Stock Just Got Cheaper—Is Wall Street Missing the Story?
- 3 Dividend Stocks Under $50 That Pay You to Wait Out Inflation
- The 127-Gigawatt Problem: Why AI Needs Its Own Power
Receive News & Ratings for First Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
