Stock of The Day: Is First Bancorp’s Fuel Running Low? The Stock Reaches 52-Week High Today

Stock of The Day: Is First Bancorp's Fuel Running Low? The Stock Reaches 52 Week High Today

The stock of First Bancorp (NASDAQ:FBNC) hit a new 52-week high and has $35.40 target or 57.00% above today’s $22.55 share price. The 8 months bullish chart indicates low risk for the $458.02M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $35.40 price target is reached, the company will be worth $261.07 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 158,718 shares traded hands or 195.13% up from the average. First Bancorp (NASDAQ:FBNC) has risen 12.40% since April 15, 2016 and is uptrending. It has outperformed by 7.77% the S&P500.

First Bancorp (NASDAQ:FBNC) Ratings Coverage

Out of 6 analysts covering First Bancorp (NASDAQ:FBNC), 2 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 33% are positive. First Bancorp has been the topic of 8 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The rating was initiated by Piper Jaffray with “Overweight” on Wednesday, November 16. Zacks downgraded the shares of FBNC in a report on Wednesday, September 2 to “Sell” rating. Gabelli downgraded the shares of FBNC in a report on Monday, November 14 to “Hold” rating. The firm has “Market Perform” rating by Stifel Nicolaus given on Monday, August 3. On Monday, August 24 the stock rating was upgraded by Zacks to “Sell”. The firm has “Outperform” rating by Keefe Bruyette & Woods given on Tuesday, August 23. On Tuesday, August 11 the stock rating was upgraded by Zacks to “Sell”. FIG Partners downgraded the shares of FBNC in a report on Wednesday, May 11 to “Market Perform” rating.

According to Zacks Investment Research, “First Bancorp is a one-bank holding company. The principal activity of the Company is the ownership and operation of First Bank. They also own and operate two nonbank subsidiaries, Montgomery Data Services, Inc. and First Bancorp Financial Services, Inc.”

Insitutional Activity: The institutional sentiment increased to 1.33 in Q2 2016. Its up 0.25, from 1.08 in 2016Q1. The ratio is positive, as 6 funds sold all First Bancorp shares owned while 27 reduced positions. 11 funds bought stakes while 33 increased positions. They now own 10.56 million shares or 3.46% less from 10.94 million shares in 2016Q1.
Shell Asset Mgmt holds 0.01% of its portfolio in First Bancorp (NASDAQ:FBNC) for 14,657 shares. Tower Research Capital Llc (Trc) has invested 0% of its portfolio in First Bancorp (NASDAQ:FBNC). Creative Planning has invested 0% of its portfolio in First Bancorp (NASDAQ:FBNC). Swiss National Bank holds 0% of its portfolio in First Bancorp (NASDAQ:FBNC) for 30,000 shares. Bnp Paribas Arbitrage reported 768 shares or 0% of all its holdings. Moreover, Pinnacle Holding Ltd has 0% invested in First Bancorp (NASDAQ:FBNC) for 12,608 shares. Manufacturers Life Ins The reported 13,155 shares or 0% of all its holdings. Moreover, Continental Ltd Liability Corp has 0.73% invested in First Bancorp (NASDAQ:FBNC) for 133,904 shares. Comml Bank Of America De, a North Carolina-based fund reported 13,980 shares. The Washington-based Parametric Port Associates Limited Co has invested 0% in First Bancorp (NASDAQ:FBNC). Rhumbline Advisers, a Massachusetts-based fund reported 26,682 shares. Mendon Cap Advsr Corp has 0.29% invested in the company for 159,250 shares. Credit Suisse Ag owns 53,754 shares or 0% of their US portfolio. Earnest Prtnrs Limited Company has 600 shares for 0% of their US portfolio. Moreover, Jpmorgan Chase & Communication has 0% invested in First Bancorp (NASDAQ:FBNC) for 51,575 shares.

Insider Transactions: Since August 15, 2016, the stock had 2 buys, and 0 insider sales for $87,503 net activity. Sloan O. Temple III had bought 2,550 shares worth $50,243 on Wednesday, November 2. CRAWFORD JAMES C III also bought $37,260 worth of First Bancorp (NASDAQ:FBNC) shares.

Another recent and important First Bancorp (NASDAQ:FBNC) news was published by Journalnow.com which published an article titled: “First Bancorp reports lower profit in busy third quarter” on October 28, 2016.

FBNC Company Profile

First Bancorp, incorporated on December 8, 1983, is the bank holding firm for First Bank (the Bank). The Company’s principal activity is the ownership and operation of First Bank. The Bank engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Bank offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers. In addition, the Bank offers Internet banking, mobile banking, cash management and bank-by-phone capabilities to its customers. It also offers a mobile check deposit feature for its mobile banking clients to deposit checks through their smartphone. The Bank offers remote deposit capture for its business customers.

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