First Bancorp (NASDAQ:FBNC): Institutional Investors Aren’t Crazy About It

September 8, 2018 - By Carolyn Hewitt

First Bancorp (NASDAQ:FBNC) Logo

Sentiment for First Bancorp (NASDAQ:FBNC)

First Bancorp (NASDAQ:FBNC) institutional sentiment decreased to 1.11 in Q1 2018. Its down -1.60, from 2.71 in 2017Q4. The ratio dropped, as 63 funds increased and started new holdings, while 57 trimmed and sold equity positions in First Bancorp. The funds in our partner’s database reported: 18.17 million shares, up from 17.80 million shares in 2017Q4. Also, the number of funds holding First Bancorp in their top 10 holdings increased from 3 to 4 for an increase of 1. Sold All: 12 Reduced: 45 Increased: 42 New Position: 21.

First Bancorp operates as the bank holding firm for First Bank that provides banking services and products for individuals and small to medium-sized businesses primarily in North Carolina and northeastern South Carolina. The company has market cap of $1.24 billion. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificates of deposits and individual retirement accounts. It has a 16.81 P/E ratio. The firm also offers loans for a range of consumer and commercial purposes comprising loans for business, agriculture, real estate, personal uses, home improvement, and automobiles.

The stock increased 0.26% or $0.11 during the last trading session, reaching $41.75. About 40,397 shares traded. First Bancorp (NASDAQ:FBNC) has risen 43.86% since September 8, 2017 and is uptrending. It has outperformed by 31.29% the S&P500.

Analysts await First Bancorp (NASDAQ:FBNC) to report earnings on October, 23. They expect $0.74 EPS, up 39.62 % or $0.21 from last year’s $0.53 per share. FBNC’s profit will be $21.98 million for 14.10 P/E if the $0.74 EPS becomes a reality. After $0.77 actual EPS reported by First Bancorp for the previous quarter, Wall Street now forecasts -3.90 % negative EPS growth.

Seidman Lawrence B holds 8.24% of its portfolio in First Bancorp for 303,348 shares. Jcsd Capital Llc owns 155,000 shares or 4.03% of their US portfolio. Moreover, Mendon Capital Advisors Corp has 3.06% invested in the company for 945,019 shares. The Massachusetts-based Castine Capital Management Llc has invested 2.08% in the stock. Stieven Capital Advisors L.P., a Missouri-based fund reported 335,479 shares.

Since January 1, 0001, it had 1 insider purchase, and 4 selling transactions for $266,527 activity.

First Bancorp (NASDAQ:FBNC) Ratings Coverage

Ratings analysis reveals 50% of First Bancorp’s analysts are positive. Out of 4 Wall Street analysts rating First Bancorp, 2 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. The lowest target is $4200 while the high is $46. The stock’s average target of $44 is 5.39% above today’s ($41.75) share price. FBNC was included in 10 notes of analysts from April 5, 2018. The stock of First Bancorp (NASDAQ:FBNC) has “Buy” rating given on Monday, June 11 by Brean Capital. The rating was maintained by Brean Capital with “Buy” on Thursday, April 5. The firm earned “Overweight” rating on Friday, July 27 by PiperJaffray. Brean Capital maintained the stock with “Buy” rating in Friday, May 11 report. The rating was maintained by Brean Capital on Monday, April 16 with “Buy”. On Friday, May 11 the stock rating was maintained by Stephens with “Hold”. The stock of First Bancorp (NASDAQ:FBNC) earned “Buy” rating by Brean Capital on Monday, April 23. The stock of First Bancorp (NASDAQ:FBNC) earned “Buy” rating by Brean Capital on Thursday, May 3. As per Tuesday, July 10, the company rating was downgraded by Raymond James. The firm has “Buy” rating by Brean Capital given on Monday, May 21.

More news for First Bancorp (NASDAQ:FBNC) were recently published by: Globenewswire.com, which released: “Recent Analysis Shows Gastar Exploration, First, DMC Global, Bryn Mawr Bank, Midland States, and FutureFuel Market …” on September 05, 2018. Nasdaq.com‘s article titled: “Report: Developing Opportunities within CrossAmerica Partners LP, Surgery Partners, The First of Long Island, German …” and published on August 15, 2018 is yet another important article.

First Bancorp (NASDAQ:FBNC) Institutional Positions Chart

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