First Bancorp (FBNC) is Downgraded by FIG Partners to Market Perform

First Bancorp (FBNC) was Downgraded by FIG Partners to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. FIG Partners advised their investors in a research report released on May 11, 2016.

First Bancorp opened for trading at $20.18 and hit $20.44 on the upside on Tuesday, eventually ending the session at $20.17, with a gain of 0.40% or 0.08 points. The heightened volatility saw the trading volume jump to 23,940 shares. Company has a market cap of $398 M.

In a different news, on Mar 22, 2016, Edward Francis Iii Soccorso (EVP) purchased 1,097 shares at $19.56 per share price. According to the SEC, on Feb 5, 2016, Daniel T Jr. Blue (director) purchased 300 shares at $18.41 per share price. On Dec 7, 2015, Richard H Moore (CEO) purchased 5,100 shares at $19.47 per share price, according to the Form-4 filing with the securities and exchange commission.

First Bancorp is the bank holding company for First Bank (the Bank). The Company’s banking activities include the acceptance of deposits and the making of loans. The Company also offers credit cards debit cards letters of credit safe deposit box rentals and electronic funds transfer services including wire transfers. The Company offers Internet banking mobile banking cash management and bank-by-phone capabilities. As of December 31 2014 the Company conducted business from 87 branches and served primarily the south central region (the Piedmont region) the central mountain region and the eastern coastal region of North Carolina with operations in northeastern South Carolina and southwestern Virginia. As of December 31 2014 the Bank had two wholly owned subsidiaries First Bank Insurance Services Inc. an agent for property and casualty insurance policies and First Troy SPE LLC.

First Bancorp

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