First Bancorp (FBNC) to Issue Quarterly Dividend of $0.08 on October 25th
First Bancorp (NASDAQ:FBNC) announced a quarterly dividend on Friday, September 16th. Investors of record on Friday, September 30th will be paid a dividend of 0.08 per share by the financial services provider on Tuesday, October 25th. This represents a $0.32 annualized dividend and a yield of 1.61%. The ex-dividend date is Wednesday, September 28th.
Shares of First Bancorp (NASDAQ:FBNC) opened at 19.89 on Friday. The company has a 50-day moving average price of $19.42 and a 200 day moving average price of $19.16. First Bancorp has a one year low of $16.01 and a one year high of $21.94. The company has a market capitalization of $399.53 million, a PE ratio of 14.50 and a beta of 1.09.
First Bancorp (NASDAQ:FBNC) last released its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03. First Bancorp had a return on equity of 8.29% and a net margin of 18.91%. Equities analysts anticipate that First Bancorp will post $1.17 EPS for the current year.
Several analysts recently commented on FBNC shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $20.00 target price on shares of First Bancorp in a report on Sunday, June 26th. Zacks Investment Research cut First Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. First Bancorp has an average rating of “Buy” and a consensus price target of $22.17.
In other First Bancorp news, Director James C. Crawford III purchased 2,000 shares of the stock in a transaction on Monday, August 15th. The shares were purchased at an average price of $18.63 per share, with a total value of $37,260.00. Following the acquisition, the director now directly owns 59,777 shares in the company, valued at approximately $1,113,645.51. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.37% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. boosted its stake in First Bancorp by 61.2% in the second quarter. Panagora Asset Management Inc. now owns 8,320 shares of the financial services provider’s stock valued at $146,000 after buying an additional 3,159 shares during the last quarter. Bridgeway Capital Management Inc. boosted its stake in First Bancorp by 35.4% in the second quarter. Bridgeway Capital Management Inc. now owns 249,627 shares of the financial services provider’s stock valued at $4,388,000 after buying an additional 65,256 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in First Bancorp by 0.6% in the second quarter. Parametric Portfolio Associates LLC now owns 48,154 shares of the financial services provider’s stock valued at $847,000 after buying an additional 299 shares during the last quarter. Menta Capital LLC boosted its stake in First Bancorp by 11.6% in the second quarter. Menta Capital LLC now owns 17,273 shares of the financial services provider’s stock valued at $304,000 after buying an additional 1,800 shares during the last quarter. Finally, Teachers Advisors Inc. boosted its stake in First Bancorp by 25.5% in the second quarter. Teachers Advisors Inc. now owns 36,762 shares of the financial services provider’s stock valued at $646,000 after buying an additional 7,472 shares during the last quarter. 53.16% of the stock is currently owned by hedge funds and other institutional investors.
About First Bancorp
First Bancorp is the bank holding company for First Bank (the Bank). The Company’s principal activity is the ownership and operation of First Bank. The Company engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Company offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.
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