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.
Check Out Our Latest Analysis on First Bancorp
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
(
Get Free Report)
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.
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