First Bancorp (NASDAQ:FBNC – Get Free Report) announced its earnings results on Wednesday. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11, Zacks reports. The company had revenue of $143.42 million for the quarter, compared to analyst estimates of $94.00 million. First Bancorp had a return on equity of 8.62% and a net margin of 20.58%.
First Bancorp Stock Up 13.8 %
FBNC traded up $5.43 during midday trading on Thursday, reaching $44.77. 460,283 shares of the company were exchanged, compared to its average volume of 154,856. First Bancorp has a one year low of $26.00 and a one year high of $45.41. The company’s fifty day moving average price is $32.58 and its 200 day moving average price is $33.48. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 16.10 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.81 and a current ratio of 0.81.
First Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Sunday, June 30th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, June 28th. First Bancorp’s payout ratio is 31.77%.
Analyst Ratings Changes
Read Our Latest Research Report on First Bancorp
Insider Transactions at First Bancorp
In other news, Director Mary Clara Capel sold 1,015 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $30.05, for a total value of $30,500.75. Following the transaction, the director now owns 11,569 shares in the company, valued at approximately $347,648.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.65% of the company’s stock.
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. The company accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts.
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