First Bancorp (NASDAQ:FBNC) Shares Gap Down - Should You Sell?

First Bancorp (NASDAQ:FBNC - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $41.51, but opened at $40.67. First Bancorp shares last traded at $41.64, with a volume of 27,665 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FBNC shares. Janney Montgomery Scott cut First Bancorp from a "buy" rating to a "neutral" rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods upped their price objective on shares of First Bancorp from $49.00 to $56.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Finally, Stephens began coverage on shares of First Bancorp in a research report on Wednesday. They issued an "overweight" rating and a $48.00 target price on the stock.

First Bancorp Stock Down 2.3 %

The firm has a 50-day simple moving average of $42.17 and a 200 day simple moving average of $43.42. The stock has a market capitalization of $1.67 billion, a P/E ratio of 21.92 and a beta of 1.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81.

First Bancorp (NASDAQ:FBNC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share (EPS) 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 3.27 EPS for the current year.

First Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be paid a $0.22 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.88 annualized dividend and a dividend yield of 2.18%. First Bancorp's dividend payout ratio is 47.83%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Versant Capital Management Inc grew its position in shares of First Bancorp by 82.3% in the 4th quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider's stock valued at $26,000 after buying an additional 265 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of First Bancorp by 807.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,262 shares of the financial services provider's stock worth $55,000 after acquiring an additional 1,123 shares during the period. GAMMA Investing LLC boosted its holdings in First Bancorp by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 253 shares during the last quarter. KBC Group NV increased its position in First Bancorp by 76.0% during the 4th quarter. KBC Group NV now owns 2,592 shares of the financial services provider's stock valued at $114,000 after purchasing an additional 1,119 shares during the period. Finally, Salem Investment Counselors Inc. raised its holdings in First Bancorp by 157.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 3,551 shares of the financial services provider's stock worth $157,000 after purchasing an additional 2,171 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

First Bancorp Company Profile

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.