First Bancorp (North Carolina) (FBNC) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS
First Bancorp (North Carolina) (NASDAQ:FBNC) announced its earnings results on Wednesday. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.24 by $0.06, StockRatingsNetwork reports. During the same quarter in the prior year, the company posted $0.22 earnings per share.
Shares of First Bancorp (NASDAQ:FBNC) traded down 1.79% on Wednesday, hitting $14.79. 18,837 shares of the company’s stock traded hands. First Bancorp has a 52-week low of $9.52 and a 52-week high of $16.45. The stock has a 50-day moving average of $14.90 and a 200-day moving average of $14.13. The company’s market cap is $291.1 million.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 25th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Thursday, September 26th.
Several analysts have recently commented on the stock. Analysts at Guggenheim cut their price target on shares of First Bancorp (North Carolina) from $7.50 to $6.00 in a research note to investors on Monday, October 7th. They now have a “neutral” rating on the stock. On a related note, analysts at Merrill Lynch initiated coverage on shares of First Bancorp (North Carolina) in a research note to investors on Friday, August 23rd. They set a “buy” rating on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of First Bancorp (North Carolina) in a research note to investors on Friday, August 23rd. They set an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $11.90.
First Bancorp is a bank holding company. The Company’s principal activity is the ownership and operation of First Bank (NASDAQ:FBNC), a state-chartered bank.
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