First Bancorp (FBNC) – What Are Analysts Saying About This Stock?

Shares of First Bancorp (NASDAQ:FBNC) have received an average rating of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $67.94.

Several research analysts recently issued reports on FBNC shares. Zacks Research downgraded shares of First Bancorp from a “hold” rating to a “strong sell” rating in a research report on Monday, September 21st. Raymond James Financial cut shares of First Bancorp from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $72.00 to $71.00 in a research report on Tuesday, October 6th. Piper Sandler raised their price objective on shares of First Bancorp from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods boosted their target price on shares of First Bancorp from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First Bancorp in a research report on Thursday, August 13th.

First Bancorp Price Performance

First Bancorp stock opened at $61.57 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $2.55 billion, a P/E ratio of 19.12 and a beta of 0.84. The business’s fifty day moving average is $62.98 and its two-hundred day moving average is $61.57. First Bancorp has a 52 week low of $47.53 and a 52 week high of $66.78.

First Bancorp (NASDAQ:FBNC) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.07. First Bancorp had a return on equity of 11.31% and a net margin of 22.12%. The company had revenue of $127.30 million during the quarter, compared to analyst estimates of $126.07 million. Equities research analysts forecast that First Bancorp will post 4.72 earnings per share for the current fiscal year.

First Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 30th. First Bancorp’s dividend payout ratio is 29.81%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of First Bancorp during the second quarter worth $380,347,000. Bank of New York Mellon Corp acquired a new position in shares of First Bancorp during the second quarter valued at $45,055,000. First Bancorp Inc ME bought a new position in First Bancorp in the second quarter valued at about $25,711,000. William Blair Investment Management LLC bought a new position in First Bancorp in the second quarter valued at about $19,779,000. Finally, Segall Bryant & Hamill LLC boosted its holdings in First Bancorp by 176.4% in the first quarter. Segall Bryant & Hamill LLC now owns 429,818 shares of the financial services provider’s stock valued at $24,220,000 after acquiring an additional 274,289 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

About First Bancorp

First Bancorp is a bank holding company headquartered in Southern Pines, North Carolina. Its principal subsidiary, First Bank, is a community banking institution that provides financial services to individuals, businesses and institutions.

First Bank offers deposit accounts, consumer and commercial loans, mortgages, treasury management and other business banking services. Through its banking and related financial services operations, the company also provides wealth management, trust and investment services, insurance products and electronic banking solutions.

Founded in 1983, First Bancorp has expanded from its origins in North Carolina into a regional banking organization serving communities across North Carolina and South Carolina.