First Bancorp (FBNC) to Issue Quarterly Dividend of $0.22 on July 25th

First Bancorp (NASDAQ:FBNCGet Free Report) announced a quarterly dividend on Friday, June 14th, Zacks reports. Investors of record on Sunday, June 30th will be given a dividend of 0.22 per share by the financial services provider on Thursday, July 25th. This represents a $0.88 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, June 28th.

First Bancorp has raised its dividend payment by an average of 6.9% annually over the last three years. First Bancorp has a dividend payout ratio of 31.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Bancorp to earn $2.86 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 30.8%.

First Bancorp Stock Down 1.7 %

NASDAQ:FBNC opened at $30.02 on Friday. First Bancorp has a 1-year low of $26.00 and a 1-year high of $38.51. The company has a 50-day moving average of $31.74 and a 200 day moving average of $33.87. The firm has a market cap of $1.24 billion, a PE ratio of 10.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.81 and a quick ratio of 0.81.

First Bancorp (NASDAQ:FBNCGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). First Bancorp had a return on equity of 8.62% and a net margin of 20.58%. The business had revenue of $92.17 million during the quarter, compared to analysts’ expectations of $96.12 million. As a group, research analysts anticipate that First Bancorp will post 2.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, lowered shares of First Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th.

Read Our Latest Stock Analysis on FBNC

About First Bancorp

(Get Free Report)

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.

See Also

Dividend History for First Bancorp (NASDAQ:FBNC)

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