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First Bancorp (FBNC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

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First Bancorp (FBNC - Free Report) reported $99.88 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 2.3%. EPS of $0.73 for the same period compares to $1.06 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $100.09 million, representing a surprise of -0.21%. The company delivered an EPS surprise of +8.96%, with the consensus EPS estimate being $0.67.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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% versus the three-analyst average estimate of 3%.
  • Net Charge-offs: 0.1% compared to the 0.1% average estimate based on two analysts.
  • Average Interest-Earning Assets: $11.41 billion versus the two-analyst average estimate of $11.40 billion.
  • Total Non Interest Income: $15.18 million versus the three-analyst average estimate of $14.41 million.
  • Other service charges, commissions and fees: $5.45 million compared to the $5.93 million average estimate based on two analysts.
  • Commissions from sales of insurance and financial products: $1.21 million compared to the $1.24 million average estimate based on two analysts.
  • Service charges on deposit accounts: $4.66 million compared to the $4.12 million average estimate based on two analysts.
  • Bank-Owned Life Insurance Income: $1.10 million compared to the $1.04 million average estimate based on two analysts.
  • Fees from presold mortgage loans: $0.33 million versus the two-analyst average estimate of $0.84 million.
View all Key Company Metrics for First Bancorp here>>>

Shares of First Bancorp have returned -4.4% over the past month versus the Zacks S&P 500 composite's -1.6% 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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