First Bancorp (NASDAQ:FBNC) Plans Quarterly Dividend of $0.18

First Bancorp (NASDAQ:FBNC) announced a quarterly dividend on Wednesday, September 16th, Wall Street Journal reports. Investors of record on Wednesday, September 30th will be paid a dividend of 0.18 per share by the financial services provider on Friday, October 23rd. This represents a $0.72 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Tuesday, September 29th.

First Bancorp has increased its dividend by 68.8% over the last three years and has raised its dividend every year for the last 2 years.

FBNC stock traded up $0.37 during midday trading on Wednesday, reaching $21.27. The stock had a trading volume of 140,606 shares, compared to its average volume of 122,189. First Bancorp has a 52-week low of $17.32 and a 52-week high of $41.34. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $21.19 and its 200 day simple moving average is $23.45. The company has a market cap of $616.34 million, a price-to-earnings ratio of 7.66, a price-to-earnings-growth ratio of 2.86 and a beta of 1.18.

First Bancorp (NASDAQ:FBNC) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.40. First Bancorp had a net margin of 25.52% and a return on equity of 9.41%. The business had revenue of $78.82 million during the quarter, compared to analysts’ expectations of $67.34 million. Sell-side analysts predict that First Bancorp will post 1.82 EPS for the current year.

Several research analysts have recently weighed in on the company. Piper Sandler lowered their target price on First Bancorp from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. Zacks Investment Research raised First Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, September 7th. ValuEngine upgraded First Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, September 1st. Finally, DA Davidson upgraded First Bancorp from a “neutral” rating to a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $37.33.

About First Bancorp

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 primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificates of deposit and individual retirement accounts.

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Dividend History for First Bancorp (NASDAQ:FBNC)

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