Zacks: Brokerages Expect Premier Bancorp (NASDAQ: FBNC) to Report Quarterly Sales of $ 86.15 million


Equity research analysts predict that First Bancorp (NASDAQ: FBNC) will bring in $ 86.15 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have released earnings estimates for First Bancorp, with the highest sales estimate at $ 90.20 million and the lowest estimate at $ 82.10 million. First Bancorp recorded sales of $ 76.00 million in the same quarter last year, suggesting a positive year-over-year growth rate of 13.4%. The company is expected to announce its next quarterly results on Wednesday, January 26.

According to Zacks, analysts expect First Bancorp to report annual revenue of $ 317.55 million for the current year, with estimates ranging from $ 313.90 million to $ 321.20 million. of dollars. For the next fiscal year, analysts expect the company to report revenue of $ 372.00 million, with estimates ranging from $ 369.90 million to $ 374.10 million. Zacks’ sales calculations are an average based on a survey of research companies that cover First Bancorp.

First Bancorp (NASDAQ: FBNC) last released its results on Monday, October 25. The financial services provider reported earnings per share (EPS) of $ 0.97 for the quarter, meeting analyst consensus estimates of $ 0.97. First Bancorp had a net margin of 34.25% and a return on equity of 12.07%. The company posted revenue of $ 75.06 million for the quarter, compared to analysts’ expectations of $ 77.45 million.

FBNC has been the subject of several research analyst reports. Zacks Investment Research downgraded First Bancorp shares from a “hold” rating to a “buy” rating and set a price target of $ 50.00 on the stock in a report released on Monday, December 13. Piper Sandler downgraded First Bancorp shares from an “overweight” rating to a “neutral” rating and set a target price of $ 52.00 for the stock. in a report on Tuesday, October 12.

(A d)

It could be the highest grossing event in crypto history. And that only happens once. If you miss it, there is no second chance.

Separately, principal Carlie C. Mclamb, Jr. bought 2,006 shares of the company in a transaction dated Monday, November 22. The stock was purchased at an average cost of $ 49.24 per share, for a total trade of $ 98,775.44. The acquisition was disclosed in a file with the Securities & Exchange Commission, which is available on the SEC website. Company insiders own 2.28% of the company’s shares.

Several institutional investors have recently bought and sold shares of FBNC. Vanguard Group Inc. increased its stake in First Bancorp by 2.3% in the second quarter. Vanguard Group Inc. now owns 1,856,424 shares of the financial services provider valued at $ 75,946,000 after purchasing an additional 42,312 shares during the period. State Street Corp increased its stake in First Bancorp by 1.9% in the second quarter. State Street Corp now owns 1,175,150 shares of the financial services provider valued at $ 48,310,000 after purchasing an additional 21,645 shares during the period. Macquarie Group Ltd. increased its stake in First Bancorp by 1.0% in the third quarter. Macquarie Group Ltd. now owns 1,147,775 shares of the financial services provider valued at $ 49,365,000 after purchasing an additional 11,382 shares during the period. Jennison Associates LLC increased its stake in First Bancorp by 6.2% in the third quarter. Jennison Associates LLC now owns 919,998 shares of the financial services provider valued at $ 39,569,000 after purchasing an additional 53,806 shares during the period. Finally, William Blair Investment Management LLC increased its stake in First Bancorp by 50,754.3% in the third quarter. William Blair Investment Management LLC now owns 839,096 shares of the financial services provider valued at $ 36,090,000 after purchasing an additional 837,446 shares during the period. Institutional investors hold 76.22% of the shares of the company.

Shares of FBNC opened at $ 45.12 on Friday. The stock has a market cap of $ 1.61 billion, a price-to-earnings ratio of 11.81 and a beta of 1.24. First Bancorp has a one-year minimum of $ 32.47 and a one-year maximum of $ 50.92. The Company’s fifty-day simple moving average is $ 47.01 and its two-hundred-day simple moving average is $ 43.27. The company has a debt ratio of 0.07, a current ratio of 0.70, and a rapid ratio of 0.70.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 25. Shareholders of record on Friday, December 31 will receive a dividend of $ 0.20 per share. The ex-dividend date is Thursday, December 30. This represents an annualized dividend of $ 0.80 and a return of 1.77%. First Bancorp’s payout ratio is 20.94%.

First profile of the Bancorp company

First Bancorp operates as a banking holding company, carrying on banking activities, accepting deposits and granting loans. It offers a range of deposit products such as chequing, savings, NOW and cash accounts, as well as term deposits, including various types of certificates of deposit, CDs, and individual retirement accounts.

See also: How does quantitative easing work?

Get a Free Copy of Zacks’ Research Report on First Bancorp (FBNC)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

History and earnings estimates for First Bancorp (NASDAQ: FBNC)

This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]

Should you invest $ 1,000 in First Bancorp now?

Before you consider First Bancorp, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly asking their clients to buy now before the wider market takes hold … and First Bancorp was not on the list.

While First Bancorp currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better bets.

See the 5 actions here


Comments are closed.