Bank of New York Mellon Corp cuts stake in First Bancorp by nearly 30% in Q2

🌧️Trending News

First Bancorp ($NASDAQ:FBNC) is a bank holding company that primarily operates through its subsidiary, First Bank. The company’s stock is listed on the NASDAQ exchange under the ticker symbol “FBNC.” This decrease in investment may indicate a change in Bank of New York Mellon Corp’s confidence in First Bancorp’s financial performance or overall market conditions. This report discloses the investment holdings of these managers, allowing investors and the public to gain insight into their investment strategies. Investors may interpret this move as a lack of confidence in the company, which could potentially lead to a decrease in stock price.

However, it is important to note that this decrease in investment does not necessarily reflect the performance or financial health of First Bancorp. It will be interesting to see how this decision affects First Bancorp’s future performance and how other investors respond to this development. As always, it is important for investors to conduct their own research and due diligence before making any investment decisions.

Analysis

According to Star Chart, it falls under the category of “rhino” which means that it has achieved moderate revenue or earnings growth. This indicates that the company has been able to consistently generate profits, but at a steady pace rather than explosive growth. Based on the company’s performance, I believe that FIRST BANCORP would appeal to investors who are looking for a reliable and steady investment option. This could include risk-averse investors who prefer a stable and consistent return on their investment. Additionally, FIRST BANCORP’s moderate growth potential could also attract long-term investors who are not looking for quick returns but rather steady growth over time. One of the key strengths of FIRST BANCORP is its high health score of 9/10. This indicates that the company has strong cash flows and a manageable debt level, which means it is capable of paying off its debts and funding future operations. This level of financial stability is important for any company, as it ensures that it can weather any economic downturns or unforeseen challenges. FIRST BANCORP also stands out in terms of its assets, dividends, and medium level of growth. This suggests that the company has a strong asset base and a stable dividend policy, which can be appealing to income-seeking investors. Additionally, its medium level of growth indicates that the company is not overly risky, but still has potential for growth in the future. Overall, my analysis leads me to conclude that FIRST BANCORP is a solid and well-managed company with strong fundamentals. Its moderate growth potential and high health score make it an attractive option for investors seeking stability and potential for long-term growth in their portfolio. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for First Bancorp. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for First Bancorp. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for First Bancorp. More…

Key Ratios Snapshot

Some of the financial key ratios for First Bancorp are shown below. More…

Peers

The company operates more than 2,000 branch offices and 4,700 ATMs across the country. First Bancorp is a member of the Federal Reserve System and is regulated by the Office of the Comptroller of the Currency. The company’s primary competitors are Mountain Commerce Bancorp Inc, Citizens Bancshares Corp, and BCB Bancorp Inc.

– Mountain Commerce Bancorp Inc ($OTCPK:MCBI)

Mountain Commerce Bancorp Inc is a bank holding company that operates through its subsidiary, Mountain Commerce Bank. The bank offers a range of banking services for individuals and businesses, including checking and savings accounts, loans, and credit cards. The company has a market cap of 170.53M as of 2022.

– Citizens Bancshares Corp ($OTCPK:CZBS)

Citizens Bancshares Corp is a bank holding company. The Company, through its subsidiaries, provides a range of banking services to individual and corporate customers. These services include personal and commercial banking, loans, mortgages, credit cards, and investment management.

– BCB Bancorp Inc ($NASDAQ:BCBP)

BCB Bancorp Inc., a bank holding company, provides banking products and services to retail, commercial, and industrial customers in the United States. The company operates in two segments, Banking and Mortgage Banking. It offers various deposit products, including checking accounts, money market accounts, savings accounts, certificates of deposit, and individual retirement accounts. The company also provides loans, such as commercial real estate loans, construction loans, residential mortgage loans, home equity lines of credit, and term loans. In addition, it offers other services, such as safe deposit box rentals, ATM banking, night depository services, direct deposit of payroll and Social Security, and telephone and Internet banking services. As of December 31, 2020, the company operated 39 banking offices in central and northern New Jersey. BCB Bancorp Inc. was founded in 1868 and is headquartered in Bayonne, New Jersey.

Summary

This could suggest that they have concerns about the company’s performance or potential risks. It is important to note that this is just one investor’s decision and may not reflect the opinions of other investors. Additionally, it is possible that Bank of New York Mellon Corp is simply reallocating their investments and it does not necessarily indicate a negative outlook on First Bancorp. Overall, it is important for investors to conduct thorough analysis and consider multiple factors before making investment decisions.