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.
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.
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