Compared to Estimates, First Bancorp (FBNC) Q2 Earnings: A Look at Key Metrics

FBNC

First Bancorp (FBNC - Free Report) reported $101.22 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 6%. EPS of $0.71 for the same period compares to $1.03 a year ago.

The reported revenue represents a surprise of -4.06% over the Zacks Consensus Estimate of $105.5 million. With the consensus EPS estimate being $0.74, the EPS surprise was -4.05%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how First Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Interest Margin [%]: 3.05% versus the three-analyst average estimate of 3.22%.
  • Average Interest-Earning Assets: $11.42 billion compared to the $11.37 billion average estimate based on two analysts.
  • Net Charge-offs: 0.04% compared to the 0.13% average estimate based on two analysts.
  • Total Non Interest Income: $14.24 million compared to the $14.17 million average estimate based on three analysts.
  • Bank-Owned Life Insurance Income: $1.07 million versus the two-analyst average estimate of $1.03 million.
  • Other service charges, commissions and fees: $5.65 million versus $6.02 million estimated by two analysts on average.
  • Commissions from sales of insurance and financial products: $1.41 million versus the two-analyst average estimate of $1.19 million.
  • Service charges on deposit accounts: $4.11 million versus the two-analyst average estimate of $4.09 million.
  • Net Interest Income: $86.99 million versus the two-analyst average estimate of $91.24 million.
  • Fees from presold mortgage loans: $0.56 million compared to the $0.91 million average estimate based on two analysts.
View all Key Company Metrics for First Bancorp here>>>

Shares of First Bancorp have returned +10.4% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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