FBNC's earnings estimate raised to $1.83 for 2024, up 7%. Loan growth forecasted at mid-single digits amid economic challenges. Net interest margin expected to improve further before facing downward pressure. Risks from local economic downturn and hurricanes remain significant. Dividend yield projected at 3.2% with no expected increase.
First BanCorp's earnings expected to grow 7% in 2024. Loan growth projected at mid-single digits amid economic challenges. Net interest margin improved, but expected to decline in 2025. Upgrade to 'buy' rating based on improved earnings estimates. Hurricane risks elevated, impacting overall financial stability.
FBNC reported earnings of $0.70, beating estimates of $0.59. Revenue of $95.72 million exceeded the consensus estimate by 1.83%. The bank's stock is up 7.2% this year, underperforming the S&P 500. Estimate revisions for FBNC are mixed, leading to a Zacks Rank #3 (Hold). The Banks - Southeast industry is in the bottom 38% of Zacks industries.
- First Bancorp reported Q1 earnings of $0.61 per share, missing estimates. Revenue at $92.17 million. - Stock has lost 7.8% YTD, underperforming S&P 500. - Stock's immediate movement depends on earnings outlook and commentary. Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Earnings