First Bancorp (NASDAQ:FBNC) Posts Earnings Results

First Bancorp (NASDAQ:FBNC) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.70 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $97.00 million.

First Bancorp Stock Down 0.8 %

First Bancorp stock traded down $0.33 during trading on Friday, reaching $41.24. The stock had a trading volume of 38,275 shares, compared to its average volume of 160,828. First Bancorp has a 52-week low of $27.45 and a 52-week high of $45.41. The business has a 50 day moving average price of $42.06 and a 200 day moving average price of $36.63. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.70 billion, a PE ratio of 14.91 and a beta of 1.03.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com cut shares of First Bancorp from a “hold” rating to a “sell” rating in a report on Thursday. Keefe, Bruyette & Woods lifted their price objective on shares of First Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, July 25th.

Insider Buying and Selling

In related news, Director Suzanne S. Deferie sold 17,750 shares of First Bancorp stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $43.96, for a total value of $780,290.00. Following the completion of the transaction, the director now owns 67,654 shares in the company, valued at $2,974,069.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Suzanne S. Deferie sold 17,750 shares of the business’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 completion of the sale, the director now owns 67,654 shares in the company, valued at approximately $2,974,069.84. 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 link. Also, Director Suzanne S. Deferie sold 2,036 shares of the business’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 owns 65,618 shares of the company’s stock, valued at $2,872,099.86. 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

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.