Group 1: Earnings Performance - First Bancorp reported quarterly earnings of $0.45 per share, exceeding the Zacks Consensus Estimate of $0.43 per share, but down from $0.46 per share a year ago, representing an earnings surprise of 4.65% [1] - The company posted revenues of $234.57 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 2.18%, compared to $230.02 million in the same quarter last year [1] - Over the last four quarters, First Bancorp has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [1] Group 2: Stock Performance and Outlook - First Bancorp shares have increased approximately 24% since the beginning of the year, outperforming the S&P 500's gain of 22.7% [2] - The company's earnings outlook, including current consensus earnings expectations for upcoming quarters, will be crucial for future stock performance [3] - The current consensus EPS estimate for the upcoming quarter is $0.45 on revenues of $246.56 million, and for the current fiscal year, it is $1.76 on revenues of $948.53 million [4] Group 3: Industry Context - The Zacks Industry Rank for Banks - Southeast is currently in the bottom 33% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - Customers Bancorp, another company in the same industry, is expected to report a quarterly earnings decline of 44% year-over-year, with a consensus EPS estimate revised 8.6% lower over the last 30 days [5]
First Bancorp (FBP) Tops Q3 Earnings Estimates