First Bancorp (FBNC) Rating Reiterated by Brean Capital
First Bancorp (NASDAQ:FBNC)‘s stock had its “buy” rating reiterated by equities researchers at Brean Capital in a research note issued on Monday.
Several other research firms also recently weighed in on FBNC. BidaskClub downgraded shares of First Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research downgraded shares of First Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Piper Jaffray reissued a “buy” rating and set a $42.00 target price on shares of First Bancorp in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $41.00 target price on shares of First Bancorp in a research report on Friday, December 22nd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $39.50.
First Bancorp stock traded up $0.27 during mid-day trading on Monday, reaching $36.33. The company had a trading volume of 8,088 shares, compared to its average volume of 88,766. The firm has a market capitalization of $1,068.95, a P/E ratio of 19.64, a P/E/G ratio of 1.00 and a beta of 1.11. 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 fifty-two week low of $27.50 and a fifty-two week high of $41.76.
In other news, Director Mary Clara Capel sold 2,250 shares of the business’s stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $37.05, for a total transaction of $83,362.50. Following the completion of the sale, the director now directly owns 13,746 shares of the company’s stock, valued at $509,289.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of First Bancorp by 16.4% during the fourth quarter. BlackRock Inc. now owns 1,876,045 shares of the financial services provider’s stock worth $66,244,000 after acquiring an additional 264,581 shares in the last quarter. 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. Macquarie Group Ltd. boosted its holdings in First Bancorp by 6.3% during the fourth quarter. Macquarie Group Ltd. now owns 658,191 shares of the financial services provider’s stock worth $23,241,000 after purchasing an additional 39,147 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in First Bancorp by 15.7% during the fourth quarter. Renaissance Technologies LLC now owns 512,414 shares of the financial services provider’s stock worth $18,093,000 after purchasing an additional 69,481 shares during the last quarter. Finally, Seidman Lawrence B purchased a new position in First Bancorp during the fourth quarter worth about $12,797,000. 61.59% of the stock is owned by institutional investors.
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About First Bancorp
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 deposits and individual retirement accounts.
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