Could this be the case of a blown-up long-term opportunity? First Bancorp (FBNC)

First Bancorp [FBNC] stock is trading at $48.36, down -0.23%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The FBNC shares have gain 4.36% over the last week, with a monthly amount glided 17.12%, and seem to be holding up well over a long-time horizon.

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On 26, October 2022, First Bancorp Reports Third Quarter Results. In a post published today on Yahoo Finance, First Bancorp (the “Company”) (NASDAQ: FBNC), the parent company of First Bank, announced today net income of $37.9 million, or $1.06 per diluted common share, for the three months ended September 30, 2022, compared to $36.6 million, or $1.03 per diluted common share for the three months ended June 30, 2022 (“linked quarter”) and $27.6 million, or $0.97 per diluted common share, recorded in the third quarter of 2021.  For the nine months ended September 30, 2022, the Company recorded net income of $108.5 million, or $3.04 per diluted common share, compared to $85.1 million, or $2.99 per diluted common share for the nine months ended September 30, 2021.

From an analyst’s perspective:

First Bancorp [NASDAQ: FBNC] stock has seen the most recent analyst activity on August 18, 2022, when Piper Sandler upgraded its rating to a Overweight and also revised its price target to $47 from $49. Previously, DA Davidson downgraded its rating to Neutral on August 01, 2022, and dropped its price target to $42. Piper Sandler downgraded its rating to a Neutral and increased its price target to $52 on October 12, 2021. Piper Sandler upgraded its rating to a Overweight and raised its price target to $51 on June 16, 2021. DA Davidson downgraded its rating to Neutral for this stock on June 19, 2020. In a note dated June 18, 2020, Piper Sandler downgraded an Neutral rating on this stock and revised its target price from $32 to $26.

First Bancorp [FBNC] stock has fluctuated between $32.90 and $49.36 over the past year. First Bancorp [NASDAQ: FBNC] shares were valued at $48.36 at the most recent close of the market.

Analyzing the FBNC fundamentals

First Bancorp [NASDAQ:FBNC] reported sales of 88.29 billion for the most recent quarter, which represents a growth of 45.70%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 47.94 points at the first support level, and at 47.53 for the second support level. However, for the 1st resistance point, the stock is sitting at 48.78, and for the 2nd resistance point, it is at 49.21.

First Bancorp [FBNC] reported earnings per share of $1.06 for its fiscal quarter that ended on 9/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.98/share, meaning a difference of $0.08 and a surprise factor of 8.20%. By comparison, the stated earnings for the previous quarter ended on 6/29/2022 were $1.03 per share as compared to estimates of $1.02 per share, a difference of $0.01 representing a surprise of 1.00%.

Ratios To Look Out For

Considering the valuation of this stock, the price to sales ratio is 4.17, the price to book ratio is 1.32 and the P/E (TTM) ratio is 14.52.

Transactions by insiders

Insider trading, which has resulted in 0 insider purchases of 0 shares and 1 insider sales of 705 shares in the past three months, is now the topic of our analysis. Recent insider trading involved McLamb Carlie C Jr, Director, that happened on Nov 11 when 928.0 shares were purchased. Director, Capel Mary Clara completed a deal on Aug 25 to sell 705.0 shares. Meanwhile, Director McLamb Carlie C Jr bought 1039.0 shares on Aug 15.