First Bancorp (NASDAQ:FBNC) Issues Quarterly Earnings Results

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

First Bancorp Stock Performance

Shares of NASDAQ FBNC traded down $0.63 during trading on Friday, reaching $40.94. 154,405 shares of the company traded hands, compared to its average volume of 161,396. The stock has a market capitalization of $1.69 billion, a PE ratio of 14.78 and a beta of 1.03. First Bancorp has a 52-week low of $27.45 and a 52-week 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. The firm has a 50 day simple moving average of $42.05 and a 200-day simple moving average of $36.67.

Analyst Ratings Changes

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

Insider Activity at First Bancorp

In other news, 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 completion of the sale, the director now owns 67,654 shares of the company’s stock, valued at $2,974,069.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Suzanne S. Deferie sold 17,750 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $2,974,069.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Suzanne S. Deferie sold 2,036 shares of the firm’s stock in a transaction on 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 directly owns 65,618 shares in the company, valued at approximately $2,872,099.86. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.65% of the stock is owned by company insiders.

About First Bancorp

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.