First Bancorp (NASDAQ:FBNC) spotted trading -41.73% off 52-week high price. On the other end, the stock has been noted 39.10% away from the low price over the last 52-weeks. The stock changed -0.99% to recent value of $24.09. The stock transacted 119027 shares during most recent day however it has an average volume of 157.91K shares. The company has 28.80M of outstanding shares and 28.31M shares were floated in the market.
On Oct. 26, 2020, First Bancorp (NASDAQ:FBNC) the parent company of First Bank, notified net income of $23.3 million, or $0.81 per diluted common share, for the three months ended September 30, 2020 compared to $25.0 million, or $0.84 per diluted common share, recorded in the third quarter of 2019. The earnings per share of $0.81 for the third quarter of 2020 represent a 44.6% increase from the $0.56 reported for the second quarter of 2020.
For the nine months ended September 30, 2020, the Company recorded net income of $57.8 million, or $1.99 per diluted common share compared to $71.2 million, or $2.39 per diluted common share, for the nine months ended September 30, 2019.
Earnings for the periods in 2020 were impacted by provisions for loan losses related to estimated losses arising from the economic impact of COVID-19. For the three months ended September 30, 2020, the Company recorded a provision for loan losses of $6.1 million compared to a negative provision for loan losses of $1.1 million in the third quarter of 2019. For the nine months ended September 30, 2020, the Company recorded a provision for loan losses of $31.0 million compared to a negative provision of $0.9 million for the first nine months of 2019. The impact of the higher provisions for loan losses were partially offset by higher noninterest income realized in 2020, as described further below.
Its earnings per share (EPS) expected to touch remained 3.00% for this year while earning per share for the next 5-years is expected to reach at 0.60%. FBNC has an operating margin of 83.90% while its profit margin remained 32.60% for the last 12 months.
The price moved ahead of 6.97% from the mean of 20 days, 11.93% from mean of 50 days SMA and performed -4.90% from mean of 200 days price. Company’s performance for the week was 6.26%, 18.26% for month and YTD performance remained -39.64%.