First Bancorp (FBNC) Rating Reiterated by Brean Capital

First Bancorp (NASDAQ:FBNC)‘s stock had its “buy” rating reissued by equities researchers at Brean Capital in a research note issued to investors on Tuesday.

FBNC has been the subject of several other research reports. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $37.00 target price on shares of First Bancorp in a research note on Thursday, October 5th. Stephens began coverage on shares of First Bancorp in a research report on Monday. They set an “equal weight” rating for the company. Finally, Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday, October 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. First Bancorp has an average rating of “Buy” and a consensus price target of $36.25.

Shares of First Bancorp (NASDAQ:FBNC) opened at $37.90 on Tuesday. First Bancorp has a 12 month low of $25.35 and a 12 month high of $39.11. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.78. The company has a market cap of $1,134.77, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 1.51 and a beta of 1.09.

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of First Bancorp by 4.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,294,316 shares of the financial services provider’s stock worth $44,537,000 after acquiring an additional 59,041 shares in the last quarter. Vanguard Group Inc. increased its position in shares of First Bancorp by 24.8% during the second quarter. Vanguard Group Inc. now owns 1,000,939 shares of the financial services provider’s stock worth $31,290,000 after acquiring an additional 198,866 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of First Bancorp by 30.4% during the third quarter. Macquarie Group Ltd. now owns 619,044 shares of the financial services provider’s stock worth $21,301,000 after acquiring an additional 144,201 shares in the last quarter. Banc Funds Co. LLC increased its position in shares of First Bancorp by 18.5% during the second quarter. Banc Funds Co. LLC now owns 592,556 shares of the financial services provider’s stock worth $18,523,000 after acquiring an additional 92,392 shares in the last quarter. Finally, State Street Corp increased its position in shares of First Bancorp by 27.9% during the second quarter. State Street Corp now owns 461,813 shares of the financial services provider’s stock worth $14,436,000 after acquiring an additional 100,632 shares in the last quarter. 56.53% of the stock is owned by institutional investors.

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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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