First Bancorp (FBNC) Given Consensus Recommendation of “Buy” by Brokerages
Shares of First Bancorp (NASDAQ:FBNC) have received a consensus rating of “Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $41.50.
FBNC has been the topic of several research reports. BidaskClub lowered shares of First Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. Zacks Investment Research lowered shares of First Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Brean Capital reaffirmed a “buy” rating on shares of First Bancorp in a research report on Monday, January 29th. Piper Jaffray Companies reissued a “buy” rating and issued a $42.00 price target on shares of First Bancorp in a research report on Tuesday, January 9th. Finally, Stephens began coverage on shares of First Bancorp in a research report on Monday, December 4th. They issued an “equal weight” rating on the stock.
Shares of First Bancorp (FBNC) opened at $37.49 on Wednesday. The company has a market cap of $1,109.98, a PE ratio of 20.83, a price-to-earnings-growth ratio of 1.04 and a beta of 1.14. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. First Bancorp has a 12-month low of $27.50 and a 12-month high of $41.76.
In other news, CEO Richard H. Moore bought 2,755 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were acquired at an average price of $36.00 per share, with a total value of $99,180.00. Following the acquisition, the chief executive officer now owns 121,741 shares of the company’s stock, valued at approximately $4,382,676. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suzanne S. Deferie sold 12,001 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $35.67, for a total transaction of $428,075.67. Following the sale, the insider now directly owns 113,408 shares in the company, valued at approximately $4,045,263.36. The disclosure for this sale can be found here. Insiders own 2.37% of the company’s stock.
A number of institutional investors have recently bought and sold shares of FBNC. SG Americas Securities LLC bought a new stake in First Bancorp during the 3rd quarter worth approximately $107,000. Acadian Asset Management LLC bought a new stake in First Bancorp during the 4th quarter worth approximately $125,000. Advisor Group Inc. increased 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 acquiring an additional 2,406 shares during the period. Pitcairn Co. bought a new stake in First Bancorp during the 4th quarter worth approximately $207,000. Finally, Meeder Asset Management Inc. increased 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 acquiring an additional 5,088 shares during the period. 61.56% of the stock is currently owned by institutional investors and hedge funds.
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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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