First Bancorp (NASDAQ:FBNC) Issues Earnings Results

First Bancorp (NASDAQ:FBNC - Get Free Report) released its quarterly earnings data on Wednesday. The financial services provider reported $0.70 EPS for the quarter, meeting analysts' consensus estimates of $0.70, Yahoo Finance reports. First Bancorp had a return on equity of 8.39% and a net margin of 20.17%. The business had revenue of $144.99 million for the quarter, compared to the consensus estimate of $97.00 million.

First Bancorp Stock Down 1.5 %

Shares of FBNC traded down $0.63 during mid-day trading on Friday, reaching $40.94. The company's stock had a trading volume of 154,405 shares, compared to its average volume of 161,396. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.07. First Bancorp has a 1 year low of $27.45 and a 1 year high of $45.41. The business has a fifty day moving average of $42.06 and a 200 day moving average of $36.63. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 14.91 and a beta of 1.03.

Analyst Upgrades and Downgrades

FBNC has been the subject of a number of recent research reports. StockNews.com cut First Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday. Keefe, Bruyette & Woods boosted their price objective on First Bancorp from $40.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th.

Insider Buying and Selling

In other news, Director Suzanne S. Deferie sold 2,036 shares of the firm's 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 directly owns 65,618 shares of the company's stock, valued at approximately $2,872,099.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Suzanne S. Deferie sold 2,036 shares of the firm'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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Suzanne S. Deferie sold 17,750 shares of First Bancorp stock in a transaction on Friday, September 20th. The stock was sold at an average price of $43.96, for a total transaction of $780,290.00. Following the sale, 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 position. The disclosure for this sale can be found here. 3.65% of the stock is owned by corporate 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.