BlackRock Fund Advisors has recently announced that it has increased stake in First Bancorp (NASDAQ:FBNC) by 2.13%. After grabbing 4.93 million shares, the institutional investor is now in possession of 0.1 million shares of the Financial Company. The new investment brought the stake of investor firm to 13.80% having worth around $211.13 million. Moreover, The Vanguard Group, Inc. increased its share by 0.11 million to have a control over 2.48 million shares. And Dimensional Fund Advisors LP raised its holdings to 95038.0 shares by acquiring 1.58 million shares or 4.42% of the stake.
First Bancorp (FBNC) concluded trading on 01/18/23 at a closing price of $40.04, with 0.22 million shares of worth about $8.91 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 12.41% during that period and on Wednesday the price saw a loss of about -3.84%. Currently the company’s common shares owned by public are about 35.47M shares, out of which, 35.07M shares are available for trading.
Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $53.00 and could fall to a lowest price of $49.00. The stock’s current price level is 20.32% above of average price target set by the analysts, while a rise to estimated low would result in gain of 18.29% for the stock. However, touching the estimated high of $53.00 would mean a gain of 24.45% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 40 times over the past 12 months. They bought 68,068 shares in 27 of the transactions. In 13 selling transactions, insiders dumped 15,294 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Delaware Small Cap Core Fund are the top 3 mutual funds which are holding stakes in First Bancorp iShares Core S&P Small Cap ETF is currently holding 2.47 million shares of worth totaling $105.73 million. The company recently came buying 0.0 shares which brought its stake up to 6.91% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 2707.0 shares, after which its hold over company’s outstanding shares expand to 3.09%, leaving 1.1 million shares with the mutual fund that have a worth of about $47.23 million. Delaware Small Cap Core Fund, after buying 1.03 million shares, have now control over 2.89% of the stake in the company. It holds 8150.0 shares of worth $44.2 million.
First Bancorp (NASDAQ: FBNC) started trading at $41.47, below -$0.17 from concluding price of the previous day. However, the stock later moved at a day high price of 41.47, or with a loss of -3.84%. Stock saw a price change of -3.59% in past 5 days and over the past one month there was a price change of -4.12%. Year-to-date (YTD), FBNC shares are showing a performance of -6.54% which decreased to -17.61% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $32.90 but also hit the highest price of $49.00 during that period. The average intraday trading volume for First Bancorp shares is 134.50K. The stock is currently trading -5.17% below its 20-day simple moving average (SMA20), while that difference is down -10.63% for SMA50 and it goes to 1.55% higher than SMA200.
BlackRock Fund Advisors acquired 4.93 million shares of First Bancorp having value of about $211.13 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.1 million shares in the company valued at close to $4108504.4, or have control over 2.13% stake in the company. First Bancorp (NASDAQ: FBNC) currently have 35.47M outstanding shares and institutions hold larger chunk of about 72.90% of that. Holding of mutual funds in the company is about 25.17% while other institutional holders and individual stake holders have control over 45.39% and 11.10% of the stake respectively.
The stock has a current market capitalization of $1.63B and its 3Y-monthly beta is at 1.16. PE ratio of stock for trailing 12 months is 12.02, while it has posted earnings per share of $3.33 in the same period. Its PEG reads 1.48 while making debt-to-equity ratio of 0.23. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FBNC, volatility over the week remained 2.23% while standing at 2.46% over the month.
Analysts are in expectations that First Bancorp (FBNC) stock would likely to be making an EPS of $1.04 in the current quarter, while forecast for next quarter EPS is $1.01 and it is $4.3 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.97 which is $1.12 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.3 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 13.30% while it is estimated to increase by 4.57% in next year. EPS is likely to shrink at an annualized rate of 8.10% for next 5-years, compared to annual growth of 19.20% made by the stock over the past 5-years.
Analysts at 5 brokerage firms have issued recommendations for the First Bancorp (FBNC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 5 Wall Street analysts, 3 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on August 18, 2022 offering an Overweight rating for the stock and assigned a target price range of between $49 and $47 to it. Coverage by DA Davidson stated First Bancorp (FBNC) stock as a Neutral in their note to investors on August 01, 2022, suggesting a price target of $42 for the stock. On February 28, 2022, Raymond James Resumed their recommendations, while on October 12, 2021, Piper Sandler Downgrade their ratings for the stock with a price target of $52. Stock get an Overweight rating from Piper Sandler on June 16, 2021.