First Bancorp (NASDAQ:FBNC) Short Interest Update

First Bancorp (NASDAQ:FBNC) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 791,600 shares, a growth of 7.1% from the November 15th total of 739,100 shares. Based on an average daily volume of 178,700 shares, the days-to-cover ratio is presently 4.4 days.

First Bancorp Trading Down 1.2 %

NASDAQ:FBNC traded down $0.59 during midday trading on Tuesday, hitting $47.35. The stock had a trading volume of 241,126 shares, compared to its average volume of 166,871. The stock has a 50-day moving average of $45.11 and a 200 day moving average of $40.32. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 19.09 and a beta of 1.04. First Bancorp has a one year low of $29.53 and a one year high of $50.34. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.06.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. First Bancorp had a return on equity of 8.00% and a net margin of 17.98%. The firm had revenue of $144.99 million for the quarter, compared to analyst estimates of $97.00 million. As a group, sell-side analysts forecast that First Bancorp will post 2.72 EPS for the current year.

First Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, January 25th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.86%. First Bancorp’s dividend payout ratio is presently 35.48%.

Insiders Place Their Bets

In related news, Director Suzanne S. Deferie sold 2,036 shares of First Bancorp stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $43.77, for a total transaction of $89,115.72. Following the completion of the transaction, the director now directly owns 65,618 shares of the company’s stock, valued at approximately $2,872,099.86. The trade was a 3.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.65% of the company’s stock.

Hedge Funds Weigh In On First Bancorp

A number of large investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System grew its position in shares of First Bancorp by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 20,700 shares of the financial services provider’s stock worth $661,000 after buying an additional 300 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in First Bancorp by 1.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,994 shares of the financial services provider’s stock worth $832,000 after purchasing an additional 347 shares during the last quarter. Captrust Financial Advisors increased its position in shares of First Bancorp by 0.7% during the third quarter. Captrust Financial Advisors now owns 65,459 shares of the financial services provider’s stock worth $2,722,000 after purchasing an additional 478 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of First Bancorp by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,933 shares of the financial services provider’s stock valued at $668,000 after purchasing an additional 566 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of First Bancorp by 1.5% during the 2nd quarter. Raymond James & Associates now owns 69,575 shares of the financial services provider’s stock valued at $2,221,000 after purchasing an additional 1,026 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.