First Bancorp (FBNC) Given Average Recommendation of “Buy” by Brokerages

Shares of First Bancorp (NASDAQ:FBNC) have earned a consensus rating of “Buy” from the seven analysts that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $41.50.

A number of brokerages have weighed in on FBNC. Zacks Investment Research lowered First Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday. Brean Capital restated a “buy” rating on shares of First Bancorp in a report on Monday, February 5th. Piper Jaffray Companies restated a “buy” rating and issued a $42.00 price objective on shares of First Bancorp in a report on Tuesday, January 9th. ValuEngine upgraded First Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $41.00 price objective on shares of First Bancorp in a report on Friday, December 22nd.

In other First Bancorp news, insider Suzanne S. Deferie sold 12,001 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $35.67, for a total value of $428,075.67. Following the transaction, the insider now owns 113,408 shares in the company, valued at approximately $4,045,263.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard H. Moore acquired 2,755 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was purchased at an average price of $36.00 per share, for a total transaction of $99,180.00. Following the acquisition, the chief executive officer now directly owns 121,741 shares in the company, valued at approximately $4,382,676. The disclosure for this purchase can be found here. Company insiders own 1.89% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Voya Investment Management LLC raised its holdings in shares of First Bancorp by 7.7% during the 2nd quarter. Voya Investment Management LLC now owns 15,488 shares of the financial services provider’s stock worth $484,000 after acquiring an additional 1,113 shares during the period. California Public Employees Retirement System raised its holdings in shares of First Bancorp by 3.2% during the 4th quarter. California Public Employees Retirement System now owns 68,888 shares of the financial services provider’s stock worth $2,432,000 after acquiring an additional 2,142 shares during the period. Jennison Associates LLC raised its holdings in shares of First Bancorp by 2.4% during the 4th quarter. Jennison Associates LLC now owns 92,940 shares of the financial services provider’s stock worth $3,282,000 after acquiring an additional 2,152 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of First Bancorp by 12.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 21,022 shares of the financial services provider’s stock worth $743,000 after acquiring an additional 2,312 shares during the period. Finally, Advisor Group Inc. raised its holdings in shares of First Bancorp by 145.8% during the 4th quarter. Advisor Group Inc. now owns 4,056 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 2,406 shares during the period. Institutional investors and hedge funds own 56.53% of the company’s stock.

First Bancorp (NASDAQ FBNC) opened at $36.02 on Friday. First Bancorp has a 52-week low of $27.50 and a 52-week high of $41.76. The stock has a market capitalization of $1,052.79, a P/E ratio of 20.01, a PEG ratio of 1.01 and a beta of 1.12. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.05 and a current ratio of 1.05.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Sunday, December 31st were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.89%. First Bancorp’s payout ratio is currently 17.78%.

TRADEMARK VIOLATION NOTICE: This story was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://www.dispatchtribunal.com/2018/02/17/first-bancorp-fbnc-given-average-recommendation-of-buy-by-brokerages.html.

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.

Receive News & Ratings for First Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply