Stock Rating Downgrade
Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for First Bancorp/NC (NASDAQ: FBNC) weakened during the last several trading days. FBNC’s current Value Trend Rating is C and the prior Rating was B. Details supporting this lower rating are included in our next report.
Recent Price Action
First Bancorp/NC (NASDAQ: FBNC) stock closed at $39.08 on 8/9/24 after a decline of -2.1%. However, below average trading volume at 67% of normal accompanied the decline. The stock has declined -2.4% during the last week and has performed in line with the market over the last nine months.
Current PriceTarget Research Rating
FBNC’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a modest Value Builder.
First Bancorp/NC has a current Value Trend Rating of C (High Neutral). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. First Bancorp/NC has a neutral Power Rating of 55 and a slightly positive Appreciation Score of 65, with the High Neutral Value Trend Rating the result.
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