First Bancorp’s recently made public that its Director GARRETT MASON Y unloaded Company’s shares for reported $1.23 million on Aug 30. In the deal valued at $29.56 per share,41,667 shares were sold. As a result of this transaction, GARRETT MASON Y now holds 226,308 shares worth roughly $ 6.92 million.
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Then, GARRETT MASON Y sold 61,215 shares, generating $1,829,104 in total proceeds. Upon selling the shares at $29.88, the Director now owns 267,975 shares.
Before that, McLamb Carlie C Jr bought 1,176 shares. First Bancorp shares valued at $36,574 were divested by the Director at a price of $31.10 per share. As a result of the transaction, McLamb Carlie C Jr now holds 29,462 shares, worth roughly $0.9 million.
Raymond James downgraded its First Bancorp [FBNC] rating to a Mkt perform from a an Outperform in a research note published on Friday.
Price Performance Review of FBNC
On Friday, First Bancorp [NASDAQ:FBNC] saw its stock jump 3.10% to $30.56. On the same session, the stock had its day’s lowest price of $29.83, but rose to a high of $30.61. Over the last five days, the stock has gained 3.70%. First Bancorp shares have fallen nearly -28.66% since the year began. Nevertheless, the stocks have fallen -16.07% over the past one year. While a 52-week high of $49.00 was reached on 02/07/23, a 52-week low of $26.25 was recorded on 05/04/23. SMA at 50 days reached $31.62, while 200 days put it at $36.41. A total of 0.13 million shares were traded, compared to the trading of 0.13 million shares in the previous session.
Levels Of Support And Resistance For FBNC Stock
The 24-hour chart illustrates a support level at 30.06, which if violated will result in even more drops to 29.55. On the upside, there is a resistance level at 30.84. A further resistance level may holdings at 31.11. The Relative Strength Index (RSI) on the 14-day chart is 46.89, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 37.45%. Stochastics %K at 33.58% indicates the stock is a holding.
How much short interest is there in First Bancorp?
A steep rise in short interest was recorded in First Bancorp stocks on Aug 14, 2023, growing by 10000.0 shares to a total of 1.28 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.27 million shares. There was a rise of 0.78%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.73% of the overall stock float, the days-to-cover ratio (short ratio) rose to 8.77.
First Bancorp [FBNC] – Who Are The Largest Shareholders?
In filings from BlackRock Fund Advisors, it is revealed that the company now owns 5,639,303 shares, or roughly 13.76% of the outstanding FBNC shares. In other words, the investor’s shares have fallen by -40,004 from its previous 13-F filing of 5679307.0. Additionally, The Vanguard Group, Inc. decreased -3.10% of its stake after which the total value it holdings stand at $88,223,996, while Westwood Management Corp. added 17.75% of its stake to hold $61.94 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 136,492 shares of First Bancorp, while Dimensional Fund Advisors LP bought 60,030 shares. At present, Macquarie Investment Management B is holding 1,312,783 shares valued at $43.43 million. Geode Capital Management LLC owned 844,824 shares of the company at the time of its most recent 13F filing, worth $27.95 million.
According to FactSet, First Bancorp’s share price will average $36.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 23.99 percent from its previous closing price of $29.64. Analysts expect First Bancorp stock to reach the higher price of $37.00, while the lowest price estimate is $36.50. However, 5 analysts have rated FBNC stock as an Overweight in their predictions for 2023.