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

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

Analyst Upgrades and Downgrades

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 two-hundred day moving average is $33.41. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.81 and a quick ratio of 0.83. The firm has a market cap of $1.30 billion, a P/E ratio of 11.38 and a beta of 1.00.

First Bancorp (NASDAQ:FBNC) last posted its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.72 earnings per share 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 business had revenue of $97.03 million during the quarter, compared to analysts’ expectations of $99.63 million. Sell-side analysts anticipate that First Bancorp will post 2.67 EPS for the current fiscal year.

First Bancorp Announces Dividend

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

Institutional Investors Weigh In On First Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of FBNC. TFO Wealth Partners LLC lifted its position in First Bancorp by 17,233.3% during the fourth quarter. TFO Wealth Partners LLC now owns 1,560 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,551 shares during the period. GAMMA Investing LLC bought a new position in shares of First Bancorp in the fourth quarter worth about $68,000. Fifth Third Bancorp lifted its holdings in shares of First Bancorp by 3,504.0% in the third quarter. Fifth Third Bancorp now owns 3,640 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 3,539 shares during the last quarter. FinTrust Capital Advisors LLC bought a new position in shares of First Bancorp in the third quarter worth about $184,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of First Bancorp by 5.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,562 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 283 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

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.