First Bancorp (FBNC) To Go Ex-Dividend on December 31st

First Bancorp (NASDAQ:FBNC) declared a quarterly dividend on Monday, October 27th. Stockholders of record on Wednesday, December 31st will be given a dividend of 0.23 per share by the financial services provider on Sunday, January 25th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, December 31st.

First Bancorp has increased its dividend payment by an average of 0.1%annually over the last three years. First Bancorp has a dividend payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Bancorp to earn $3.48 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 26.4%.

First Bancorp Trading Down 0.1%

NASDAQ FBNC opened at $52.07 on Monday. The stock has a market cap of $2.16 billion, a P/E ratio of 21.88 and a beta of 0.90. The company’s fifty day simple moving average is $50.77 and its 200-day simple moving average is $50.12. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.06. First Bancorp has a 52 week low of $34.50 and a 52 week high of $56.45.

First Bancorp (NASDAQ:FBNC) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.08. First Bancorp had a net margin of 17.50% and a return on equity of 9.61%. The firm had revenue of $89.61 million for the quarter, compared to the consensus estimate of $113.47 million. Equities research analysts predict that First Bancorp will post 3.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of First Bancorp in the 1st quarter worth approximately $25,000. Smartleaf Asset Management LLC lifted its stake in First Bancorp by 183.6% during the third quarter. Smartleaf Asset Management LLC now owns 553 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 358 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in First Bancorp by 2,222.6% during the second quarter. EverSource Wealth Advisors LLC now owns 720 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 689 shares during the last quarter. Quest 10 Wealth Builders Inc. acquired a new position in First Bancorp in the third quarter worth $34,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in First Bancorp by 1,412.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 938 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 876 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

About First Bancorp

First Bancorp operates as the bank holding company for First Bank, offering a broad range of commercial and consumer banking services. Its core offerings include business lending, treasury and cash management, residential and commercial mortgage financing, and consumer deposit products. Through its subsidiary, First Bank provides online and branch-based banking solutions, including checking and savings accounts, certificate of deposits, and digital banking tools designed to meet the needs of individuals, small- to mid-sized businesses, and professional institutions.

The company maintains a network of full-service banking centers and loan production offices across North Carolina and South Carolina, with a focus on markets in the Piedmont, Sandhills and coastal regions.