First Bancorp (NASDAQ:FBNC) Declares $0.22 Quarterly Dividend

First Bancorp (NASDAQ:FBNC - Get Free Report) declared a quarterly dividend on Tuesday, January 28th, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.22 per share by the financial services provider on Friday, April 25th. This represents a $0.88 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Monday, March 31st.

First Bancorp has a dividend payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Bancorp to earn $3.48 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 25.3%.

First Bancorp Trading Down 0.0 %

Shares of First Bancorp stock traded down $0.02 on Friday, hitting $40.34. The stock had a trading volume of 88,103 shares, compared to its average volume of 165,971. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. First Bancorp has a one year low of $29.53 and a one year high of $50.34. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 21.79 and a beta of 1.04. The stock's 50-day simple moving average is $42.38 and its two-hundred day simple moving average is $43.45.

First Bancorp (NASDAQ:FBNC - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.04. First Bancorp had a net margin of 14.19% and a return on equity of 8.04%. As a group, sell-side analysts predict that First Bancorp will post 3.27 EPS for the current year.

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Analysts Set New Price Targets

Several equities analysts have commented on FBNC shares. Keefe, Bruyette & Woods raised their price objective on First Bancorp from $49.00 to $56.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Janney Montgomery Scott lowered First Bancorp from a "buy" rating to a "neutral" rating in a research report on Friday, February 7th.

First Bancorp Company Profile

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. The company accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts.