First Bancorp (NASDAQ:FBNC) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• First Bancorp (FBNC) stock crossed above its 200-day moving average, trading as high as $58.34 and last at $57.74 versus the 200‑day MA of $54.60 on volume of 274,841 shares.
• Analysts have recently shifted ratings—while some firms upgraded FBNC (including Raymond James to "strong-buy"), MarketBeat's consensus is a Moderate Buy with a $62.25 price target.
• First Bancorp reported quarterly EPS of $1.13, beating estimates by $0.04 though revenue slightly missed; the company has a $2.39B market cap, a P/E of 19.71, ~68% institutional ownership, and an insider sold 5,000 shares.

First Bancorp (NASDAQ:FBNC - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $54.60 and traded as high as $58.34. First Bancorp shares last traded at $57.74, with a volume of 274,841 shares traded.

Analyst Ratings Changes

A number of equities analysts have weighed in on FBNC shares. Piper Sandler lowered shares of First Bancorp from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $58.00 to $64.00 in a research report on Saturday, February 7th. Wall Street Zen upgraded shares of First Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Weiss Ratings upgraded shares of First Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, March 20th. Raymond James Financial upgraded shares of First Bancorp from a "market perform" rating to a "strong-buy" rating and set a $62.00 price objective for the company in a research report on Wednesday, January 7th. Finally, Zacks Research upgraded shares of First Bancorp from a "strong sell" rating to a "hold" rating in a research report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $62.25.

First Bancorp Price Performance

The business's 50-day moving average price is $56.98 and its 200 day moving average price is $54.60. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.39 billion, a P/E ratio of 19.71 and a beta of 0.84.

First Bancorp (NASDAQ:FBNC - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.04. First Bancorp had a net margin of 20.59% and a return on equity of 10.86%. The company had revenue of $122.29 million during the quarter, compared to analyst estimates of $123.21 million. Analysts anticipate that First Bancorp will post 4.75 EPS for the current fiscal year.

Insider Activity at First Bancorp

In other news, insider Mary Clara Capel sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $59.31, for a total value of $296,550.00. Following the completion of the transaction, the insider directly owned 20,400 shares in the company, valued at approximately $1,209,924. This trade represents a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.04% of the company's stock.

Institutional Investors Weigh In On First Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its stake in First Bancorp by 183.6% in the third quarter. Smartleaf Asset Management LLC now owns 553 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 358 shares in the last quarter. Summit Securities Group LLC purchased a new stake in First Bancorp in the first quarter valued at approximately $34,000. Quest 10 Wealth Builders Inc. purchased a new stake in First Bancorp in the third quarter valued at approximately $34,000. EverSource Wealth Advisors LLC raised its stake in First Bancorp by 2,222.6% in the second quarter. EverSource Wealth Advisors LLC now owns 720 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 689 shares in the last quarter. Finally, First Horizon Corp raised its stake in First Bancorp by 83.7% in the fourth quarter. First Horizon Corp now owns 777 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 354 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

About First Bancorp

First Bancorp operates as the bank holding company for First Bank, offering a broad range of commercial and consumer banking services. Its core offerings include business lending, treasury and cash management, residential and commercial mortgage financing, and consumer deposit products. Through its subsidiary, First Bank provides online and branch-based banking solutions, including checking and savings accounts, certificate of deposits, and digital banking tools designed to meet the needs of individuals, small- to mid-sized businesses, and professional institutions.

The company maintains a network of full-service banking centers and loan production offices across North Carolina and South Carolina, with a focus on markets in the Piedmont, Sandhills and coastal regions.

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