First Bancorp (NASDAQ:FBNC) Stock Rating Lowered by Janney Montgomery Scott

First Bancorp (NASDAQ:FBNC - Get Free Report) was downgraded by stock analysts at Janney Montgomery Scott from a "buy" rating to a "neutral" rating in a research note issued to investors on Friday, MarketBeat.com reports.

Several other equities analysts have also recently issued reports on the company. Keefe, Bruyette & Woods boosted their target price on First Bancorp from $49.00 to $56.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. StockNews.com downgraded shares of First Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, October 24th.

First Bancorp Price Performance

FBNC traded up $0.66 during trading on Friday, hitting $44.37. The company's stock had a trading volume of 47,528 shares, compared to its average volume of 170,458. First Bancorp has a twelve month low of $29.53 and a twelve month high of $50.34. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. The business's fifty day simple moving average is $44.68 and its 200 day simple moving average is $43.38. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 24.11 and a beta of 1.04.

First Bancorp (NASDAQ:FBNC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.04. First Bancorp had a net margin of 14.19% and a return on equity of 8.04%. On average, equities research analysts forecast that First Bancorp will post 3.09 EPS for the current fiscal year.

Institutional Investors Weigh In On First Bancorp

Institutional investors have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in First Bancorp during the 4th quarter worth approximately $344,000. American Century Companies Inc. boosted its stake in First Bancorp by 7.8% during the 4th quarter. American Century Companies Inc. now owns 152,502 shares of the financial services provider's stock valued at $6,706,000 after purchasing an additional 10,978 shares during the period. Intech Investment Management LLC increased its position in First Bancorp by 168.4% during the fourth quarter. Intech Investment Management LLC now owns 24,793 shares of the financial services provider's stock worth $1,090,000 after acquiring an additional 15,555 shares during the period. William Blair Investment Management LLC raised its holdings in First Bancorp by 2.4% in the 4th quarter. William Blair Investment Management LLC now owns 797,316 shares of the financial services provider's stock valued at $35,058,000 after acquiring an additional 18,749 shares in the last quarter. Finally, one8zero8 LLC bought a new stake in First Bancorp in the fourth quarter valued at $487,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

About First Bancorp

First Bancorp operates as the bank holding company for First Bank that provides banking products and services for individuals and small to medium-sized businesses. The company accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts.