First Bancorp (NASDAQ:FBNC) Announces Earnings Results, Meets Estimates

by · The Markets Daily

First Bancorp (NASDAQ:FBNC – Get Free Report) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70, Yahoo Finance reports. First Bancorp had a return on equity of 8.39% and a net margin of 20.17%. The company had revenue of $144.99 million for the quarter, compared to the consensus estimate of $97.00 million.

First Bancorp Stock Down 0.6 %

First Bancorp stock traded down $0.26 during trading hours on Friday, hitting $41.31. The stock had a trading volume of 35,763 shares, compared to its average volume of 160,823. The stock’s 50-day moving average price is $42.06 and its 200-day moving average price is $36.63. The stock has a market capitalization of $1.70 billion, a P/E ratio of 14.91 and a beta of 1.03. First Bancorp has a 12-month low of $27.45 and a 12-month high of $45.41. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.07.

Analyst Ratings Changes

FBNC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price target on First Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. StockNews.com cut First Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday.

Read Our Latest Report on First Bancorp

Insider Activity at First Bancorp

In other First Bancorp news, Director Suzanne S. Deferie sold 2,036 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $43.77, for a total transaction of $89,115.72. Following the sale, the director now directly owns 65,618 shares in the company, valued at approximately $2,872,099.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other First Bancorp news, Director Suzanne S. Deferie sold 2,036 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $43.77, for a total value of $89,115.72. Following the completion of the transaction, the director now owns 65,618 shares of the company’s stock, valued at approximately $2,872,099.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Suzanne S. Deferie sold 17,750 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $43.96, for a total transaction of $780,290.00. Following the transaction, the director now owns 67,654 shares in the company, valued at $2,974,069.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.65% of the stock is owned by insiders.

First Bancorp Company Profile

(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.

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