Shares of First Bancorp (NASDAQ:FBNC) have received a consensus rating of “Buy” from the ten ratings firms that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $41.33.

Several research analysts recently weighed in on FBNC shares. Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Wednesday, February 13th. BidaskClub raised shares of First Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd. Brean Capital reaffirmed a “buy” rating on shares of First Bancorp in a research note on Monday, March 18th. Sandler O’Neill raised shares of First Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. Finally, Gabelli raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Thursday, April 25th.

FBNC stock traded down $0.17 during trading on Friday, hitting $36.12. The stock had a trading volume of 413 shares, compared to its average volume of 94,666. First Bancorp has a 1-year low of $30.50 and a 1-year high of $43.14. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 2.64 and a beta of 1.24. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.52.

First Bancorp (NASDAQ:FBNC) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.04. First Bancorp had a net margin of 30.44% and a return on equity of 12.04%. The firm had revenue of $68.24 million during the quarter, compared to the consensus estimate of $67.41 million. As a group, research analysts predict that First Bancorp will post 3.09 earnings per share for the current year.

In other news, Director Mary Clara Capel sold 1,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $35.50, for a total transaction of $35,500.00. Following the completion of the sale, the director now owns 15,009 shares in the company, valued at approximately $532,819.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas F. Phillips sold 2,250 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $35.58, for a total value of $80,055.00. Following the sale, the director now owns 84,212 shares of the company’s stock, valued at approximately $2,996,262.96. The disclosure for this sale can be found here. Corporate insiders own 2.37% of the company’s stock.

Large investors have recently modified their holdings of the company. Quantamental Technologies LLC purchased a new position in First Bancorp in the 4th quarter worth approximately $33,000. PNC Financial Services Group Inc. boosted its holdings in First Bancorp by 81.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,287 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 1,029 shares during the period. Semmax Financial Advisors Inc. purchased a new position in First Bancorp in the 4th quarter worth approximately $149,000. Legal & General Group Plc boosted its holdings in First Bancorp by 23.9% in the 4th quarter. Legal & General Group Plc now owns 5,705 shares of the financial services provider’s stock worth $186,000 after acquiring an additional 1,102 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in First Bancorp by 26.8% in the 4th quarter. Squarepoint Ops LLC now owns 6,276 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 1,325 shares during the period. Institutional investors and hedge funds own 66.03% of the company’s stock.

First Bancorp Company Profile

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 deposit and individual retirement accounts.

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Analyst Recommendations for First Bancorp (NASDAQ:FBNC)

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