Revenue Update on First Bancorp(NASDAQ:FBNC)

First Bancorp(NASDAQ:FBNC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Company reported revenue of $37.97M. Analysts estimated a revenue of $37.25M. Earnings per share were $0.37. Analysts had estimated an EPS of $0.33.

In a different note, On May 11, 2016, Fig Partners said it Downgrades its rating on First Bancorp. The shares have been rated ‘Market Perform’ by the firm.

First Bancorp (FBNC) remained unchanged at the close of Friday session. Even as the volume increased to 48,275 ,the shares failed to make any impression and ended at 0 points or 0.00% at $18.72. The trading session commenced at $18.65 and the stock hit a high of $18.77 and touched $18.55 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $21.94 and the 52-week low is $16.0121. The company has a market cap of $372 M and has approximately 1,98,70,270 outstanding shares.

Several Insider Transactions has been reported to the SEC. On Jun 30, 2016, Richard H Moore (CEO) purchased 1,440 shares at $17.25 per share price.Also, On Jun 27, 2016, Michael Goodwin Mayer (President) purchased 500 shares at $17.35 per share price.On Jun 24, 2016, Eric P Credle (CFO) purchased 1,000 shares at $17.72 per share price, according to the Form-4 filing with the securities and exchange commission.

First Bancorp is the bank holding company for First Bank (the Bank). The Company’s banking activities include the acceptance of deposits and the making of loans. The Company also offers credit cards debit cards letters of credit safe deposit box rentals and electronic funds transfer services including wire transfers. The Company offers Internet banking mobile banking cash management and bank-by-phone capabilities. As of December 31 2014 the Company conducted business from 87 branches and served primarily the south central region (the Piedmont region) the central mountain region and the eastern coastal region of North Carolina with operations in northeastern South Carolina and southwestern Virginia. As of December 31 2014 the Bank had two wholly owned subsidiaries First Bank Insurance Services Inc. an agent for property and casualty insurance policies and First Troy SPE LLC.

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