First Bancorp (NASDAQ:FBNC) Hits New 1-Year High – What’s Next?

First Bancorp (NASDAQ:FBNC)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $48.50 and last traded at $48.50, with a volume of 681 shares. The stock had previously closed at $48.12.

Wall Street Analyst Weigh In

Separately, StockNews.com cut First Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, October 24th.

First Bancorp Stock Down 1.3 %

The firm’s 50-day moving average price is $43.40 and its 200 day moving average price is $38.64. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 19.59 and a beta of 1.02.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. The business had revenue of $144.99 million during the quarter, compared to the consensus estimate of $97.00 million. First Bancorp had a net margin of 17.98% and a return on equity of 8.00%. On average, sell-side analysts forecast that First Bancorp will post 2.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Suzanne S. Deferie sold 2,036 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $43.77, for a total value of $89,115.72. Following the completion of the transaction, the director now owns 65,618 shares of the company’s stock, valued at approximately $2,872,099.86. This represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in First Bancorp in the second quarter valued at approximately $44,000. Stifel Financial Corp bought a new stake in First Bancorp during the 3rd quarter worth $205,000. CreativeOne Wealth LLC acquired a new position in First Bancorp in the 3rd quarter worth about $211,000. Aptus Capital Advisors LLC bought a new position in First Bancorp in the third quarter valued at about $212,000. Finally, Olympiad Research LP bought a new stake in shares of First Bancorp during the third quarter worth about $217,000. 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.