First Bancorp (NASDAQ:FBNC) Sets New 1-Year High – Here’s What Happened

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

Analyst Upgrades and Downgrades

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

First Bancorp Stock Up 3.5 %

The company has a market capitalization of $2.06 billion, a PE ratio of 19.40 and a beta of 1.02. The company’s fifty day moving average is $43.27 and its 200-day moving average is $38.52. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.82 and a current ratio of 0.83.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.70. First Bancorp had a net margin of 17.98% and a return on equity of 8.00%. The firm had revenue of $144.99 million during the quarter, compared to analysts’ expectations of $97.00 million. As a group, analysts predict that First Bancorp will post 2.72 EPS for the current fiscal year.

Insider Buying and Selling at First Bancorp

In other news, Director Suzanne S. Deferie sold 2,036 shares of First Bancorp stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $43.77, for a total value of $89,115.72. Following the sale, the director now directly owns 65,618 shares of the company’s stock, valued at approximately $2,872,099.86. The trade was a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.65% of the company’s stock.

Institutional Investors Weigh In On First Bancorp

Large investors have recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in shares of First Bancorp in the 2nd quarter worth $44,000. Stifel Financial Corp purchased a new position in First Bancorp in the third quarter worth about $205,000. CreativeOne Wealth LLC bought a new stake in First Bancorp during the third quarter worth approximately $211,000. Aptus Capital Advisors LLC purchased a new stake in First Bancorp during the third quarter valued at approximately $212,000. Finally, Novare Capital Management LLC bought a new stake in shares of First Bancorp in the 2nd quarter valued at approximately $216,000. Institutional investors own 68.36% of the company’s stock.

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.