First Bancorp (NASDAQ:FBNC) Issues Quarterly Earnings Results, Hits Estimates

First Bancorp (NASDAQ:FBNC) released its quarterly earnings results on Wednesday. The financial services provider reported $0.70 earnings per share for the quarter, hitting the consensus estimate of $0.70, Yahoo Finance reports. First Bancorp had a net margin of 20.17% and a return on equity of 8.39%. The business had revenue of $144.99 million for the quarter, compared to analysts’ expectations of $97.00 million.

First Bancorp Stock Performance

Shares of NASDAQ FBNC traded down $0.26 during midday trading on Friday, hitting $41.31. The company’s stock had a trading volume of 35,642 shares, compared to its average volume of 160,814. The stock has a fifty day moving average price of $42.06 and a 200 day moving average price of $36.63. First Bancorp has a one year low of $27.45 and a one year high of $45.41. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 14.91 and a beta of 1.03.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FBNC. Keefe, Bruyette & Woods boosted their price target on shares of First Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. StockNews.com cut shares of First Bancorp from a “hold” rating to a “sell” rating in a report on Thursday.

Insider Activity

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

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.