First Bancorp (NASDAQ:FBNC) has been given an average rating of “Buy” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $39.00.
Several brokerages recently commented on FBNC. ValuEngine cut shares of First Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research upgraded shares of First Bancorp from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Friday, September 6th. Finally, BidaskClub cut shares of First Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 24th.
Shares of NASDAQ FBNC traded up $0.45 during midday trading on Friday, hitting $37.15. The company had a trading volume of 81,027 shares, compared to its average volume of 70,867. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.37. First Bancorp has a twelve month low of $30.50 and a twelve month high of $41.74. The business has a 50-day simple moving average of $35.71 and a two-hundred day simple moving average of $36.34. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 2.48 and a beta of 1.14.
First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.03. First Bancorp had a net margin of 30.19% and a return on equity of 11.83%. The firm had revenue of $70.40 million during the quarter, compared to analysts’ expectations of $69.62 million. On average, equities analysts forecast that First Bancorp will post 3.15 EPS for the current year.
In other First Bancorp news, Director Mary Clara Capel sold 900 shares of First Bancorp stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $36.25, for a total transaction of $32,625.00. Following the completion of the transaction, the director now owns 14,012 shares in the company, valued at $507,935. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.37% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC raised its position in First Bancorp by 15.3% during the first quarter. Jennison Associates LLC now owns 600,557 shares of the financial services provider’s stock worth $20,875,000 after acquiring an additional 79,910 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in First Bancorp by 22.7% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,296,300 shares of the financial services provider’s stock worth $45,059,000 after acquiring an additional 239,475 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in First Bancorp by 3.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 30,417 shares of the financial services provider’s stock worth $1,057,000 after acquiring an additional 994 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in First Bancorp during the second quarter worth about $1,321,000. Finally, Kennedy Capital Management Inc. raised its position in First Bancorp by 3.8% during the first quarter. Kennedy Capital Management Inc. now owns 105,841 shares of the financial services provider’s stock worth $3,679,000 after acquiring an additional 3,903 shares during the last quarter. Institutional investors own 66.13% of the company’s stock.
First Bancorp Company Profile
First Bancorp operates as the bank holding company for First Bank that provides banking products and services for individuals and small to medium-sized businesses primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificates of deposit and individual retirement accounts.
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