First Bancorp (NASDAQ:FBNC) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

First Bancorp (NASDAQ:FBNC) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.04, Zacks reports. First Bancorp had a net margin of 17.98% and a return on equity of 8.00%.

First Bancorp Price Performance

NASDAQ FBNC traded down $0.19 on Wednesday, reaching $43.94. 208,150 shares of the company’s stock traded hands, compared to its average volume of 168,686. First Bancorp has a 12 month low of $29.53 and a 12 month high of $50.34. The stock has a market cap of $1.82 billion, a PE ratio of 17.72 and a beta of 1.05. The stock has a 50-day simple moving average of $45.26 and a 200 day simple moving average of $43.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.83 and a quick ratio of 0.82.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of First Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods increased their target price on First Bancorp from $49.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

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.