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

First Bancorp (NASDAQ:FBNC) posted its earnings results on Wednesday. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates 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

FBNC traded down $0.19 during midday trading on Wednesday, reaching $43.94. 208,150 shares of the company’s stock were exchanged, compared to its average volume of 168,686. First Bancorp has a 1-year low of $29.53 and a 1-year high of $50.34. The stock has a market capitalization of $1.82 billion, a PE ratio of 17.72 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.83 and a quick ratio of 0.82. The business’s 50-day moving average price is $45.26 and its 200 day moving average price is $43.04.

Analysts Set New Price Targets

A number of research firms recently issued reports on FBNC. StockNews.com downgraded First Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods increased their price target on shares of First Bancorp from $49.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.

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.