First Bancorp (NASDAQ:FBNC) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

by · The Cerbat Gem

First Bancorp (NASDAQ:FBNC – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $49.93 and traded as high as $52.38. First Bancorp shares last traded at $52.11, with a volume of 96,882 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Zacks Research upgraded First Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Keefe, Bruyette & Woods lifted their price target on First Bancorp from $53.00 to $62.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 2nd. Wall Street Zen cut First Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of First Bancorp in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.67.

Check Out Our Latest Stock Report on First Bancorp

First Bancorp Price Performance

The company has a 50-day moving average of $50.77 and a 200-day moving average of $50.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 21.88 and a beta of 0.90.

First Bancorp (NASDAQ:FBNC – Get Free Report) last announced its earnings results on Wednesday, October 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.08. The company had revenue of $89.61 million for the quarter, compared to the consensus estimate of $113.47 million. First Bancorp had a return on equity of 9.61% and a net margin of 17.50%. As a group, equities research analysts predict that First Bancorp will post 3.27 earnings per share for the current year.

First Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 25th. Investors of record on Wednesday, December 31st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, December 31st. First Bancorp’s dividend payout ratio (DPR) is 38.66%.

Hedge Funds Weigh In On First Bancorp

A number of large investors have recently bought and sold shares of FBNC. Quantbot Technologies LP purchased a new stake in shares of First Bancorp in the first quarter valued at about $25,000. Smartleaf Asset Management LLC raised its holdings in First Bancorp by 183.6% during the third quarter. Smartleaf Asset Management LLC now owns 553 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 358 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in First Bancorp by 2,222.6% in the second quarter. EverSource Wealth Advisors LLC now owns 720 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 689 shares during the period. Quest 10 Wealth Builders Inc. acquired a new stake in First Bancorp in the third quarter valued at about $34,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in First Bancorp by 1,412.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 938 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 876 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

First Bancorp Company Profile

(Get Free Report)

First Bancorp operates as the bank holding company for First Bank, offering a broad range of commercial and consumer banking services. Its core offerings include business lending, treasury and cash management, residential and commercial mortgage financing, and consumer deposit products. Through its subsidiary, First Bank provides online and branch-based banking solutions, including checking and savings accounts, certificate of deposits, and digital banking tools designed to meet the needs of individuals, small- to mid-sized businesses, and professional institutions.

The company maintains a network of full-service banking centers and loan production offices across North Carolina and South Carolina, with a focus on markets in the Piedmont, Sandhills and coastal regions.

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