Wall Street brokerages expect First Bancorp (NASDAQ:FBNC) to announce sales of $51.04 million for the current quarter, according to Zacks. Two analysts have made estimates for First Bancorp’s earnings. The highest sales estimate is $53.48 million and the lowest is $48.60 million. First Bancorp posted sales of $35.51 million during the same quarter last year, which indicates a positive year-over-year growth rate of 43.7%. The firm is expected to issue its next earnings report on Thursday, October 26th.

According to Zacks, analysts expect that First Bancorp will report full year sales of $51.04 million for the current financial year, with estimates ranging from $195.30 million to $204.40 million. For the next year, analysts expect that the business will report sales of $247.42 million per share, with estimates ranging from $224.20 million to $261.96 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover First Bancorp.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. The firm had revenue of $51.79 million during the quarter, compared to the consensus estimate of $49.49 million. First Bancorp had a net margin of 17.52% and a return on equity of 7.77%.

Several research analysts have commented on FBNC shares. ValuEngine upgraded shares of First Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Brean Capital initiated coverage on shares of First Bancorp in a research report on Friday, June 9th. They issued a “buy” rating and a $33.00 target price for the company. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $34.00 price objective on shares of First Bancorp in a report on Monday, June 26th. Finally, Zacks Investment Research cut shares of First Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, July 3rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $32.50.

Institutional investors have recently bought and sold shares of the company. Pinnacle Financial Partners Inc. bought a new position in shares of First Bancorp in the second quarter valued at approximately $100,000. BNP Paribas Arbitrage SA boosted its holdings in shares of First Bancorp by 1,207.2% in the second quarter. BNP Paribas Arbitrage SA now owns 3,268 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 3,018 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of First Bancorp by 250.9% in the second quarter. IFP Advisors Inc now owns 3,513 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 2,512 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of First Bancorp in the second quarter valued at approximately $146,000. Finally, Legal & General Group Plc boosted its holdings in shares of First Bancorp by 23.1% in the second quarter. Legal & General Group Plc now owns 5,790 shares of the financial services provider’s stock valued at $180,000 after acquiring an additional 1,085 shares in the last quarter. Institutional investors and hedge funds own 66.03% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “First Bancorp (FBNC) Expected to Announce Quarterly Sales of $51.04 Million” was originally published by Daily Political and is owned by of Daily Political. If you are reading this article on another website, it was stolen and republished in violation of US & international trademark & copyright legislation. The legal version of this article can be viewed at https://www.dailypolitical.com/2017/09/23/first-bancorp-fbnc-expected-to-announce-quarterly-sales-of-51-04-million.html.

Shares of First Bancorp (NASDAQ FBNC) opened at 33.09 on Friday. The stock’s 50 day moving average is $30.99 and its 200-day moving average is $30.10. First Bancorp has a 52-week low of $19.18 and a 52-week high of $33.39. The firm has a market capitalization of $816.60 million, a P/E ratio of 23.06 and a beta of 1.16.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, September 29th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Thursday, September 28th. First Bancorp’s dividend payout ratio (DPR) is presently 22.54%.

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 Bank engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Bank offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.

Get a free copy of the Zacks research report on First Bancorp (FBNC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for First Bancorp (NASDAQ:FBNC)

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.