Price Action Don’t Lie: What’s in First Bancorp After Making 52-Week High?

Price Action Don't Lie: What's in First Bancorp After Making 52 Week High?

The stock of First Bancorp (NASDAQ:FBNC) hit a new 52-week high and has $25.57 target or 5.00% above today’s $24.35 share price. The 6 months bullish chart indicates low risk for the $518.94 million company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $25.57 price target is reached, the company will be worth $25.95M 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 32,875 shares traded hands. First Bancorp (NASDAQ:FBNC) has risen 18.04% since April 20, 2016 and is uptrending. It has outperformed by 13.48% 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 stock of First Bancorp (NASDAQ:FBNC) has “Sell” rating given on Monday, August 24 by Zacks. The stock of First Bancorp (NASDAQ:FBNC) earned “Overweight” rating by Piper Jaffray on Wednesday, November 16. The rating was maintained by Stifel Nicolaus on Monday, August 3 with “Market Perform”. The rating was upgraded by Keefe Bruyette & Woods on Tuesday, August 23 to “Outperform”. The firm earned “Sell” rating on Wednesday, September 2 by Zacks. The stock of First Bancorp (NASDAQ:FBNC) has “Market Perform” rating given on Wednesday, May 11 by FIG Partners. Zacks upgraded the shares of FBNC in a report on Tuesday, August 11 to “Sell” rating. Gabelli downgraded First Bancorp (NASDAQ:FBNC) on Monday, November 14 to “Hold” 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 1.96 in Q2 2016. Its up 0.63, from 1.33 in 2016Q1. The ratio improved, 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.
Brandywine Glob Inv Management Lc last reported 7,020 shares in the company. Jpmorgan Chase And holds 51,575 shares or 0% of its portfolio. Continental Limited Liability Com owns 133,904 shares or 0.73% of their US portfolio. Loomis Sayles And Co L P accumulated 109 shares or 0% of the stock. Creative Planning holds 0% or 19,842 shares in its portfolio. The New York-based Ny State Common Retirement Fund has invested 0% in First Bancorp (NASDAQ:FBNC). Tower Research Capital Lc (Trc) has invested 0% of its portfolio in First Bancorp (NASDAQ:FBNC). Pnc Fincl Services Group Inc holds 0% or 6,149 shares in its portfolio. Banc Funds Co reported 450,164 shares or 0.46% of all its holdings. Alliancebernstein Lp, a New York-based fund reported 17,210 shares. Shell Asset Management holds 0.01% or 14,657 shares in its portfolio. Gsa Ltd Liability Partnership accumulated 0.01% or 11,333 shares. The North Carolina-based Natl Bank Of America Corp De has invested 0% in First Bancorp (NASDAQ:FBNC). Dimensional Fund Advsr Ltd Partnership holds 0.01% or 966,720 shares in its portfolio. Credit Suisse Ag has 0% invested in the company for 53,754 shares.

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

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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