First Bancorp (NASDAQ:FBNC) Shares Gap Down – Time to Sell?

First Bancorp (NASDAQ:FBNC) shares 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.

Analyst Ratings Changes

FBNC has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of First Bancorp from $49.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Janney Montgomery Scott downgraded shares of First Bancorp from a “buy” rating to a “neutral” rating in a report on Friday, February 7th.

First Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $1.73 billion, a PE ratio of 22.70 and a beta of 1.04. The business’s 50-day moving average is $42.38 and its 200 day moving average is $43.45.

First Bancorp (NASDAQ:FBNC) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.04. First Bancorp had a return on equity of 8.04% and a net margin of 14.19%. On average, equities research analysts predict that First Bancorp will post 3.27 EPS for the current fiscal year.

First Bancorp Announces Dividend

The company also recently announced 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. This represents a $0.88 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Monday, March 31st. First Bancorp’s payout ratio is 47.83%.

Institutional Trading of First Bancorp

A number of institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of First Bancorp by 33.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 26,703 shares of the financial services provider’s stock worth $1,174,000 after buying an additional 6,709 shares during the last quarter. Old North State Trust LLC bought a new stake in First Bancorp in the fourth quarter valued at $3,206,000. ProShare Advisors LLC increased its position in First Bancorp by 44.3% during the 4th quarter. ProShare Advisors LLC now owns 12,093 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 3,715 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in First Bancorp by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,775 shares of the financial services provider’s stock worth $1,001,000 after purchasing an additional 778 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of First Bancorp by 52.2% in the 4th quarter. Deutsche Bank AG now owns 35,579 shares of the financial services provider’s stock worth $1,564,000 after purchasing an additional 12,202 shares during the period. 68.36% of the stock is currently owned by hedge funds and other 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.