First Bancorp Buyback
OLI recorded this information on 2/7/2022
Company:
First Bancorp
Buyback:
FBNC buyback
$Amount Authorized:
$40,000,000
Buyback Details:
The Board of Directors of First Bancorp (NASDAQ - FBNC), the parent company of First Bank, has declared a cash dividend on its common stock of $0.22 per share payable on April 25, 2022 to shareholders of record as of March 31, 2022. The $0.22 dividend rate represents a 10% increase over the previous dividend rate of $0.20. Additionally, the Board of Directors has authorized a share repurchase program (the "Share Repurchase Program"), pursuant to which the Company may purchase shares of its common stock for an aggregate repurchase price not to exceed $40 million. The initial expiration of the Share Repurchase Program is set for December 31, 2022 and replaces and supersedes the prior share repurchase program put in place in 2021. The Share Repurchase Program does not obligate the Company to purchase any shares. The authorization for the Share Repurchase Program may be terminated by the Company's Board of Directors at any time.
First Bancorp is a bank holding company. Through its subsidiary, First Bank, Co. is engaged in a range of banking activities. Co. provides deposit products such as checking, savings, and money market accounts, as well as time deposits, including various types of certificates of deposits and individual retirement accounts. Co. provides loans for a range of consumer and commercial purposes, including loans for business, real estate, personal uses, home improvement, and automobiles. Co. provides residential mortgages through its Mortgage Banking Division, and Co. provides Small Business Administration (SBA) loans to small business owners across the nation through its SBA Lending Division.
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Avg. Broker Rec.
 
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Buy (3.25 out of 4) 42nd percentile
(ranked lower than approx. 58% of all stocks covered)
Analysts' Target Price: FBNC Stock Forecast Based on Zacks ABR data; powered by Xignite |
