The stock of First Bancorp (NASDAQ:FBNC) hit a new 52-week high and has $45.42 target or 107.00% above today’s $21.94 share price. The 7 months bullish chart indicates low risk for the $454.38 million company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $45.42 price target is reached, the company will be worth $486.19 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 63,501 shares traded hands or 75.93% up from the average. First Bancorp (NASDAQ:FBNC) has risen 15.04% since April 11, 2016 and is uptrending. It has outperformed by 8.89% the S&P500.
First Bancorp (NASDAQ:FBNC) Ratings Coverage
Out of 4 analysts covering First Bancorp (NASDAQ:FBNC), 1 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 25% are positive. First Bancorp has been the topic of 6 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The company was downgraded on Wednesday, September 2 by Zacks. Zacks upgraded the shares of FBNC in a report on Tuesday, August 11 to “Sell” rating. The rating was upgraded by Keefe Bruyette & Woods on Tuesday, August 23 to “Outperform”. The firm has “Sell” rating given on Monday, August 24 by Zacks. The rating was downgraded by FIG Partners to “Market Perform” on Wednesday, May 11. The firm has “Market Perform” rating given on Monday, August 3 by Stifel Nicolaus.
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 2016 Q2. 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.
California State Teachers Retirement System holds 0% of its portfolio in First Bancorp (NASDAQ:FBNC) for 41,348 shares. Invesco has invested 0% of its portfolio in First Bancorp (NASDAQ:FBNC). Tiaa Cref Invest Mngmt Llc holds 0% of its portfolio in First Bancorp (NASDAQ:FBNC) for 66,712 shares. Martingale Asset L P reported 10,414 shares or 0% of all its holdings. Pinnacle Hldg Lc holds 0% of its portfolio in First Bancorp (NASDAQ:FBNC) for 12,608 shares. Amer Group has invested 0% of its portfolio in First Bancorp (NASDAQ:FBNC). Lsv Asset Mngmt holds 0% of its portfolio in First Bancorp (NASDAQ:FBNC) for 12,600 shares. Federated Invsts Pa has 2,589 shares for 0% of their US portfolio. The Tennessee-based Ftb has invested 0% in First Bancorp (NASDAQ:FBNC). Citigroup holds 0% of its portfolio in First Bancorp (NASDAQ:FBNC) for 3,393 shares. Moreover, Mendon Advsrs Corp has 0.29% invested in First Bancorp (NASDAQ:FBNC) for 159,250 shares. Blackrock Institutional Com Na has 0% invested in the company for 619,588 shares. Royal Bancorporation Of Canada reported 70,154 shares or 0% of all its holdings. Deutsche Savings Bank Ag accumulated 0% or 107,465 shares. Parametric Port Associate Limited Company holds 48,154 shares or 0% of its portfolio.
Insider Transactions: Since August 15, 2016, the stock had 2 insider buys, and 0 sales for $87,503 net activity. Sloan O. Temple III also bought $50,243 worth of First Bancorp (NASDAQ:FBNC) shares. CRAWFORD JAMES C III bought $37,260 worth of stock.
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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