BidaskClub upgraded shares of First Bancorp (NASDAQ:FBNC) from a hold rating to a buy rating in a research note released on Thursday morning.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of First Bancorp from a buy rating to a hold rating in a report on Tuesday, February 13th. Brean Capital reaffirmed a buy rating on shares of First Bancorp in a report on Monday, February 5th. Piper Jaffray Companies reaffirmed a buy rating and issued a $42.00 price objective on shares of First Bancorp in a report on Tuesday, January 9th. ValuEngine raised shares of First Bancorp from a hold rating to a buy rating in a report on Sunday, December 31st. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $41.00 price objective on shares of First Bancorp in a report on Friday, December 22nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $39.50.
First Bancorp (FBNC) traded up $0.07 during mid-day trading on Thursday, reaching $37.13. 57,365 shares of the company traded hands, compared to its average volume of 91,021. The firm has a market capitalization of $1,088.03, a P/E ratio of 20.05, a P/E/G ratio of 1.02 and a beta of 1.14. First Bancorp has a 1-year low of $27.50 and a 1-year high of $41.76. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.
In other First Bancorp news, CEO Richard H. Moore purchased 2,755 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were purchased at an average cost of $36.00 per share, for a total transaction of $99,180.00. Following the completion of the transaction, the chief executive officer now owns 121,741 shares in the company, valued at $4,382,676. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Suzanne S. Deferie sold 12,001 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $35.67, for a total transaction of $428,075.67. Following the completion of the sale, the insider now owns 113,408 shares in the company, valued at $4,045,263.36. The disclosure for this sale can be found here. 1.89% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of FBNC. SG Americas Securities LLC acquired a new stake in First Bancorp during the 3rd quarter worth about $107,000. Acadian Asset Management LLC acquired a new stake in First Bancorp during the 4th quarter worth about $125,000. Advisor Group Inc. raised its holdings in 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 buying an additional 2,406 shares during the period. Pitcairn Co. acquired a new stake in First Bancorp during the 4th quarter worth about $207,000. Finally, Meeder Asset Management Inc. raised its holdings in First Bancorp by 516.0% during the 4th quarter. Meeder Asset Management Inc. now owns 6,074 shares of the financial services provider’s stock worth $214,000 after buying an additional 5,088 shares during the period. Hedge funds and other institutional investors own 61.56% of the company’s stock.
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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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