First Bancorp (NASDAQ:FBNC) Announces Earnings Results

First Bancorp (NASDAQ:FBNC) issued its earnings results on Wednesday. The financial services provider reported $0.70 EPS for the quarter, meeting 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 company had revenue of $144.99 million during the quarter, compared to analysts’ expectations of $97.00 million.

First Bancorp Trading Down 1.5 %

FBNC stock traded down $0.63 during midday trading on Friday, hitting $40.94. 154,405 shares of the company’s stock were exchanged, compared to its average volume of 161,396. First Bancorp has a one year low of $27.45 and a one year high of $45.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $1.69 billion, a PE ratio of 14.78 and a beta of 1.03. The stock’s fifty day moving average price is $42.06 and its 200-day moving average price is $36.63.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other First Bancorp news, Director Suzanne S. Deferie sold 2,036 shares of First Bancorp 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other First Bancorp news, Director Suzanne S. Deferie sold 2,036 shares of First Bancorp 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 sale, the director now owns 65,618 shares of the company’s stock, valued at $2,872,099.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Suzanne S. Deferie sold 17,750 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $43.96, for a total value of $780,290.00. Following the transaction, the director now directly owns 67,654 shares of the company’s stock, valued at $2,974,069.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.65% of the company’s stock.

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.