First Bancorp (NASDAQ:FBNC) Cut to Sell at StockNews.com

StockNews.com lowered shares of First Bancorp (NASDAQ:FBNC) from a hold rating to a sell rating in a research report sent to investors on Thursday.

First Bancorp Trading Down 0.1 %

NASDAQ FBNC opened at $31.52 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 0.81. First Bancorp has a one year low of $26.00 and a one year high of $38.51. The company has a 50-day simple moving average of $33.97 and a 200-day simple moving average of $33.45. The firm has a market capitalization of $1.30 billion, a PE ratio of 11.38 and a beta of 1.00.

First Bancorp Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund bought a new stake in First Bancorp in the third quarter valued at $683,000. Charles Schwab Investment Management Inc. lifted its position in First Bancorp by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 400,597 shares of the financial services provider’s stock valued at $11,273,000 after purchasing an additional 18,567 shares during the last quarter. Great Lakes Advisors LLC boosted its stake in First Bancorp by 89.3% during the 3rd quarter. Great Lakes Advisors LLC now owns 44,278 shares of the financial services provider’s stock valued at $1,246,000 after purchasing an additional 20,888 shares during the period. Wagner Wealth Management LLC acquired a new position in First Bancorp during the 4th quarter valued at about $240,000. Finally, Everence Capital Management Inc. bought a new position in First Bancorp in the 4th quarter worth about $213,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

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.