Shares of First Bancorp (NASDAQ:FBNC) have received an average recommendation of “Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $30.50.

Several research analysts have recently weighed in on the company. ValuEngine upgraded First Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Brean Capital restated a “buy” rating on shares of First Bancorp in a research note on Wednesday, August 2nd. Zacks Investment Research cut First Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 3rd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $34.00 price target on shares of First Bancorp in a research note on Monday, June 26th.

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A number of hedge funds have recently bought and sold shares of FBNC. First Trust Advisors LP boosted its stake in First Bancorp by 0.6% in the first quarter. First Trust Advisors LP now owns 56,825 shares of the financial services provider’s stock worth $1,664,000 after buying an additional 321 shares during the period. American International Group Inc. boosted its stake in First Bancorp by 7.0% in the first quarter. American International Group Inc. now owns 12,110 shares of the financial services provider’s stock worth $355,000 after buying an additional 791 shares during the period. Teachers Advisors LLC boosted its stake in First Bancorp by 1.9% in the first quarter. Teachers Advisors LLC now owns 46,900 shares of the financial services provider’s stock worth $1,374,000 after buying an additional 876 shares during the period. Alliancebernstein L.P. boosted its stake in First Bancorp by 5.0% in the first quarter. Alliancebernstein L.P. now owns 19,010 shares of the financial services provider’s stock worth $557,000 after buying an additional 900 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in First Bancorp by 2.0% in the second quarter. JPMorgan Chase & Co. now owns 53,009 shares of the financial services provider’s stock worth $1,657,000 after buying an additional 1,041 shares during the period. Institutional investors own 60.55% of the company’s stock.

First Bancorp (FBNC) traded down 0.03% during trading on Wednesday, hitting $30.81. 35,811 shares of the company traded hands. The stock has a 50-day moving average price of $31.07 and a 200-day moving average price of $30.05. The firm has a market capitalization of $760.33 million, a P/E ratio of 21.47 and a beta of 1.18. First Bancorp has a 12-month low of $19.18 and a 12-month high of $32.99.

First Bancorp (NASDAQ:FBNC) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. First Bancorp had a return on equity of 7.77% and a net margin of 17.52%. The firm had revenue of $51.79 million during the quarter, compared to analysts’ expectations of $49.49 million. Equities analysts expect that First Bancorp will post $1.86 EPS for the current fiscal year.

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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