First Bancorp (North Carolina) reports results for the quarter ended in June - Earnings Summary

First Bancorp (North Carolina)

24/07/2024 23:01

* First Bancorp (North Carolina)  FBNC.OQ  reported
quarterly
adjusted earnings of 70 cents​​ per share for the quarter ended
in June, lower than the same quarter last year, when the company
reported EPS of 71 cents.  The mean expectation of
three analysts for the quarter was for earnings of 60 cents per
share. Wall Street expected results to range from 59 cents to 60
cents per share.
    * Revenue fell 5.4% to $95.72 million from a year ago;
analysts
expected $93.80 million. 
    * First Bancorp (North Carolina)'s reported EPS for the
quarter
was 70 cents​.
    * The company reported quarterly net income of $28.71
million.
    * First Bancorp (North Carolina) shares had risen by 24.3%
this
quarter and gained 7.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 7.4%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for First Bancorp
(North Carolina) is $41.00 
This summary was machine generated from LSEG data July 24 at
10:01 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.60           0.70           Beat
 Mar. 31 2024      0.63           0.61           Missed
 Dec. 31 2023      0.65           0.72           Beat
 Sep. 30 2023      0.68           0.73           Beat