First Bancorp (NASDAQ:FBNC) has received an average recommendation of “Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $36.67.
Several equities research analysts have weighed in on FBNC shares. Brean Capital increased their target price on First Bancorp from $39.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Zacks Investment Research raised First Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Thursday, October 5th. Piper Jaffray Companies reissued an “overweight” rating and set a $37.00 price target on shares of First Bancorp in a report on Thursday, October 5th. Finally, Stephens initiated coverage on First Bancorp in a research note on Monday. They set an “equal weight” rating for the company.
A number of hedge funds and other institutional investors have recently made changes to their positions in FBNC. Alliancebernstein L.P. boosted its position in First Bancorp by 5.0% during the 1st quarter. Alliancebernstein L.P. now owns 19,010 shares of the financial services provider’s stock worth $557,000 after acquiring an additional 900 shares during the period. Teachers Advisors LLC raised its stake in shares of First Bancorp by 1.9% during the 1st quarter. Teachers Advisors LLC now owns 46,900 shares of the financial services provider’s stock worth $1,374,000 after purchasing an additional 876 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of First Bancorp by 11.7% during the 1st quarter. TIAA CREF Investment Management LLC now owns 71,680 shares of the financial services provider’s stock worth $2,100,000 after purchasing an additional 7,493 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of First Bancorp by 13.3% in the 1st quarter. Vanguard Group Inc. now owns 802,073 shares of the financial services provider’s stock valued at $23,492,000 after acquiring an additional 94,334 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of First Bancorp by 9.5% in the 1st quarter. Geode Capital Management LLC now owns 217,638 shares of the financial services provider’s stock valued at $6,374,000 after acquiring an additional 18,841 shares in the last quarter. Hedge funds and other institutional investors own 56.53% of the company’s stock.
Shares of First Bancorp (FBNC) traded up $0.32 during midday trading on Monday, reaching $38.05. The company’s stock had a trading volume of 213,689 shares, compared to its average volume of 93,337. First Bancorp has a 1 year low of $25.48 and a 1 year high of $41.76. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $1,123.51, a price-to-earnings ratio of 21.17, a PEG ratio of 1.50 and a beta of 1.09.
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First Bancorp Company Profile
First Bancorp is the bank holding company for First Bank (the Bank). The Company’s principal activity is the ownership and operation of First Bank. The Bank engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Bank offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.
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