Economy

First Bancorp (FBNC) Hits New 52-Week High Following Analyst Upgrade

The third largest holder is Blackrock Inc., which now holds $91.84 million worth of this stock and that ownership represents almost 8.43% of its market capitalization.

However looking at valuation ratios the stock has 5 year expected PEG ratio of 0.91 whereas its trailing twelve month P/E ratio is 10.96. The Company's Wireless DataCom segment offers solutions for mobile resource management (MRM) applications, the machine-to-machine (M2M) communications space and other markets that require connectivity anytime and anywhere. The 7 months bullish chart indicates low risk for the $310.79M company. The 1-year high was reported on Oct, 26 by Barchart.com. If the $40.28 price target is reached, the company will be worth $27.97 million more. About 19,917 shares traded. First Financial Bancorp. shares had a trading volume of 456K by the end of trading on Tuesday. It has underperformed by 16.70% the S&P500.

Since May 2, 2017, it had 3 insider purchases, and 0 insider sales for $73,194 activity. KEACH JOHN K JR bought 1,000 shares worth $26,390.

Sell-side analyst recommendations point to a short term price target of $42.5 on the shares of First Internet Bancorp (INBK). Therefore 50% are positive. First Bancorp (NYSE:FBP)'s price sits -5.38% off from its 50-day moving average of $5.21 and -12.8% away from the stock's 200-day moving average which is $5.57. The stock is now moving above its 20-Day Simple Moving Average of 1.95% with a 50-Day Simple Moving Average of -5.38 percent. INBK was included in 9 notes of analysts from July 27, 2015. According to today's trading volume First Bancorp is BELOW its 20-Day Avg. volume with the stock showing BELOW Abnormal volume in the past 150 days. Brean Capital maintained the stock with "Buy" rating in Wednesday, August 2 report. The stock of Foxtons Group PLC (LON:FOXT) earned "Neutral" rating by Credit Suisse on Monday, September 25. Peel Hunt maintained it with "Reduce" rating and GBX 100 target in Wednesday, October 19 report. Keefe Bruyette & Woods maintained the shares of INBK in report on Thursday, October 19 with "Buy" rating. First Financial Bancorp. recently announced a dividend for shareholders that was paid on Monday the 3rd of July 2017.

Investors sentiment decreased to 1.07 in Q2 2017. Dimensional Fund Advisors LP boosted its position in First Bancorp by 6.0% during the second quarter. IFP Advisors Inc raised its holdings in First Financial Bancorp.by 0.6% during the 2nd quarter. Menta Capital Llc holds 0.04% or 12,291 shares in its portfolio. State Street has 0% invested in First Bancorp (NASDAQ:FBNC) for 461,813 shares. Meeder Asset Inc, a Ohio-based fund reported 1,060 shares. 6,200 were reported by New York State Common Retirement Fund. Gilder Gagnon Howe & Company Llc accumulated 181,260 shares. Dimensional Fund Limited Partnership has invested 0% of its portfolio in First Internet Bancorp (NASDAQ:INBK). The financial services provider reported $0.45 EPS for the quarter, beating the Zacks' consensus estimate of $0.43 by $0.02. Rhumbline Advisers reported 0.01% stake. Kennedy Cap Mngmt Incorporated holds 166,196 shares or 0.1% of its portfolio. At recent session, the prices were hovering between $4.75 and $5.04. Franklin Res Inc reported 186,800 shares.

First Bancorp is the bank holding company for First Bank. Lee Thomas H Partners Lp owns $95.14 million in First Bancorp, which represents roughly 8.73% of the company's market cap and approximately 10.1% of the institutional ownership. Besides the branches and lending offices, the Corporation has offered a telephone information service called Telebanco since 1983. It has a 15.44 P/E ratio. The Bank engages in a range of banking activities, including the acceptance of deposits and the making of loans. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The lowest target is $77.0 while the high is $101.0. It opened the session with a $37.1 price tag, later ranging from $36.0377 to $38.6, the range at which the stock has traded at throughout the day. That puts the market capitalization at $283.12 mln. As per Monday, August 3, the company rating was maintained by Stifel Nicolaus. The company was maintained on Friday, October 23 by Barclays Capital. Sheets Smith Wealth holds 0.08% in NV5 Global Inc (NASDAQ:NVEE) or 6,732 shares. Finally, BidaskClub cut First Financial Bancorp. from a "sell" rating to a "strong sell" rating in a research report on Tuesday, August 22nd. Stephens Ar holds 9,894 shares or 0.01% of its portfolio. Portland Global Advisors Llc owns 19,000 shares or 0.21% of their U.S. portfolio. Moreover, Evanston Investments Inc. Following the sale, the insider now directly owns 74,170 shares of the company's stock, valued at approximately $1,905,427.30. The Massachusetts-based De Burlo Group Inc has invested 1.6% in the stock.



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