First Bancorp (NASDAQ:FBNC) Stock Rating Lowered by Janney Montgomery Scott

First Bancorp (NASDAQ:FBNC) was downgraded by Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday,Finviz reports.

FBNC has been the subject of a number of other reports. Keefe, Bruyette & Woods increased their price target on First Bancorp from $49.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. StockNews.com cut First Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th.

First Bancorp Price Performance

First Bancorp stock opened at $45.94 on Friday. The stock’s 50 day moving average is $44.81 and its 200 day moving average is $43.29. First Bancorp has a one year low of $29.53 and a one year high of $50.34. The firm has a market cap of $1.90 billion, a P/E ratio of 24.97 and a beta of 1.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81.

First Bancorp (NASDAQ:FBNC) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. First Bancorp had a net margin of 14.19% and a return on equity of 8.04%. As a group, research analysts expect that First Bancorp will post 3.09 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FBNC. Versant Capital Management Inc boosted its holdings in First Bancorp by 82.3% in the fourth quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 265 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of First Bancorp by 22.3% in the 4th quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 253 shares in the last quarter. KBC Group NV grew its position in First Bancorp by 76.0% in the 4th quarter. KBC Group NV now owns 2,592 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 1,119 shares during the period. Salem Investment Counselors Inc. increased its stake in First Bancorp by 157.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 3,551 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 2,171 shares in the last quarter. Finally, Stifel Financial Corp bought a new stake in First Bancorp during the 3rd quarter valued at $205,000. 68.36% of the stock is owned by institutional investors.

About First Bancorp

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.