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First Bancorp (FBNC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

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First Bancorp (FBNC - Free Report) reported $92.17 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 13.1%. EPS of $0.61 for the same period compares to $0.37 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $96.12 million, representing a surprise of -4.11%. The company delivered an EPS surprise of -4.69%, with the consensus EPS estimate being $0.64.

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.

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 [%]: 2.8% compared to the 2.9% average estimate based on three analysts.
  • Net Charge-offs: 0.1% versus the two-analyst average estimate of 0.1%.
  • Average Interest-Earning Assets: $11.49 billion versus the two-analyst average estimate of $11.53 billion.
  • Total Non Interest Income: $12.94 million versus the three-analyst average estimate of $14.74 million.
  • Other service charges, commissions and fees: $5.61 million versus the two-analyst average estimate of $4.94 million.
  • Service charges on deposit accounts: $3.87 million versus the two-analyst average estimate of $4.10 million.
  • Bank-Owned Life Insurance Income: $1.16 million versus the two-analyst average estimate of $1.07 million.
  • Commissions from sales of insurance and financial products: $1.32 million versus the two-analyst average estimate of $1.51 million.
View all Key Company Metrics for First Bancorp here>>>

Shares of First Bancorp have returned -1.9% over the past month versus the Zacks S&P 500 composite's -3% 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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