First Bancorp (NASDAQ:FBNC) Stock Price Down 7.7%

Shares of First Bancorp (NASDAQ:FBNC) traded down 7.7% during trading on Thursday . The company traded as low as $31.78 and last traded at $31.84. 120,092 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 140,409 shares. The stock had previously closed at $34.50.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of First Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday.

First Bancorp Price Performance

The company’s 50 day moving average is $33.97 and its 200-day moving average is $33.41. The stock has a market cap of $1.30 billion, a PE ratio of 11.38 and a beta of 1.00. The company has a current ratio of 0.81, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.66 by $0.06. First Bancorp had a net margin of 20.58% and a return on equity of 8.62%. The company had revenue of $97.03 million for the quarter, compared to analyst estimates of $99.63 million. As a group, sell-side analysts predict that First Bancorp will post 2.67 earnings per share for the current year.

First Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Sunday, March 31st were paid a $0.22 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.88 dividend on an annualized basis and a yield of 2.79%. First Bancorp’s payout ratio is presently 31.77%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FBNC. TFO Wealth Partners LLC grew its stake in First Bancorp by 17,233.3% in the 4th quarter. TFO Wealth Partners LLC now owns 1,560 shares of the financial services provider’s stock valued at $58,000 after buying an additional 1,551 shares during the last quarter. GAMMA Investing LLC acquired a new position in First Bancorp in the 4th quarter valued at $68,000. Fifth Third Bancorp grew its stake in First Bancorp by 3,504.0% in the 3rd quarter. Fifth Third Bancorp now owns 3,640 shares of the financial services provider’s stock valued at $102,000 after buying an additional 3,539 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new position in First Bancorp in the 3rd quarter valued at $184,000. Finally, PNC Financial Services Group Inc. grew its position in First Bancorp by 5.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,562 shares of the financial services provider’s stock worth $206,000 after purchasing an additional 283 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.