First Bancorp (FBNC) Sees Unusually-High Trading Volume
First Bancorp (NASDAQ:FBNC) saw unusually-strong trading volume on Tuesday . Approximately 79,084 shares changed hands during mid-day trading, a decline of 2% from the previous session’s volume of 80,623 shares.The stock last traded at $18.30 and had previously closed at $18.16.
A number of research analysts recently commented on FBNC shares. Piper Jaffray Cos. reissued an “overweight” rating on shares of First Bancorp in a report on Sunday, April 10th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $20.00 price target on shares of First Bancorp in a report on Sunday, June 26th. Zacks Investment Research cut First Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, March 30th. Finally, FIG Partners downgraded First Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $22.00 to $22.50 in a research note on Wednesday, May 11th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.63.
The stock has a market cap of $365.51 million and a price-to-earnings ratio of 14.150. The stock has a 50 day moving average price of $18.74 and a 200-day moving average price of $18.95.
First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Wednesday, April 27th. The financial services provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. On average, analysts expect that First Bancorp will post $1.33 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 25th. Investors of record on Thursday, June 30th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.74%. The ex-dividend date is Tuesday, June 28th.
In related news, CEO Richard H. Moore bought 2,800 shares of the company’s stock in a transaction that occurred on Friday, June 24th. The shares were purchased at an average cost of $17.78 per share, with a total value of $49,784.00. Following the completion of the acquisition, the chief executive officer now directly owns 95,317 shares in the company, valued at $1,694,736.26. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
A hedge fund recently raised its stake in First Bancorp stock. EJF Capital LLC increased its stake in First Bancorp (NASDAQ:FBNC) by 28.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 643,168 shares of the financial services provider’s stock after buying an additional 143,490 shares during the period. EJF Capital LLC owned 3.26% of First Bancorp worth $12,053,000 at the end of the most recent reporting period.
First Bancorp is the bank holding company for First Bank (the Bank). The Company’s banking activities include the acceptance of deposits and the making of loans. The Company also offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.
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