First Bancorp (FBNC) Q4 Non-GAAP EPS of $1.19 Beats Estimates by $0.15
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 17h ago
0mins
Source: seekingalpha
- Earnings Beat: First Bancorp reported a Q4 Non-GAAP EPS of $1.19, exceeding market expectations by $0.15, indicating resilience in its profitability amidst challenging conditions.
- Revenue Decline: The company's revenue of $83.9 million represents a 5.6% year-over-year decline and fell short of market expectations, reflecting pressures on overall business performance.
- Market Reaction: Given the revenue miss, investors may adopt a cautious outlook on the company's future growth prospects, potentially impacting stock price performance.
- Financial Health: Despite the revenue decline, First Bancorp must focus on maintaining its financial health to ensure stable profitability in a competitive market environment.
Analyst Views on FBNC
Wall Street analysts forecast FBNC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FBNC is 60.67 USD with a low forecast of 58.00 USD and a high forecast of 62.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 60.500
Low
58.00
Averages
60.67
High
62.00
Current: 60.500
Low
58.00
Averages
60.67
High
62.00
About FBNC
First Bancorp is a bank holding company. The principal activity of the Company is the ownership and operation of the First Bank (the Bank), a state-chartered bank with its main office in Southern Pines, North Carolina. The Bank has two wholly owned subsidiaries, Magnolia Financial, Inc. (Magnolia Financial) and First Troy SPE, LLC. Magnolia Financial is a business financing company that makes loans throughout the southeastern United States. The Bank maintains a diversified loan portfolio by providing a broad range of commercial and retail lending services to business entities and individuals. The Bank provides commercial business loans, commercial and residential real estate construction and mortgage loans, revolving lines of credit, letters of credit, and loans for personal uses, home improvement, and automobiles. The Bank offers a full range of deposit accounts and services to both retail and commercial customers. The Bank operates about 113 branches.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
