First Bancorp (NASDAQ:FBNC) Stock Now Rated “Hold” by Sell-Side Analysts

First Bancorp (NASDAQ:FBNC) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $68.19.

A number of equities analysts have weighed in on FBNC shares. Raymond James Financial lowered shares of First Bancorp from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $72.00 to $71.00 in a research report on Tuesday, October 6th. Zacks Research lowered shares of First Bancorp from a “hold” rating to a “strong sell” rating in a research report on Monday, September 21st. Piper Sandler upped their price target on shares of First Bancorp from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, October 22nd. Keefe, Bruyette & Woods upped their price target on shares of First Bancorp from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Bancorp in a report on Thursday, August 13th.

Institutional Investors Weigh In On First Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Maryland State Retirement & Pension System grew its position in shares of First Bancorp by 54.0% in the third quarter. Maryland State Retirement & Pension System now owns 9,328 shares of the financial services provider’s stock valued at $570,000 after purchasing an additional 3,270 shares in the last quarter. Keybank National Association OH raised its stake in shares of First Bancorp by 15.2% during the 3rd quarter. Keybank National Association OH now owns 12,090 shares of the financial services provider’s stock valued at $739,000 after purchasing an additional 1,595 shares during the period. DWM Financial Group Inc. lifted its holdings in First Bancorp by 56.7% during the 3rd quarter. DWM Financial Group Inc. now owns 62,121 shares of the financial services provider’s stock worth $3,796,000 after purchasing an additional 22,487 shares in the last quarter. USA Financial Formulas purchased a new stake in First Bancorp during the 3rd quarter worth about $40,000. Finally, Three Magnolias Financial Advisors LLC purchased a new stake in First Bancorp during the 3rd quarter worth about $718,000. Institutional investors own 68.36% of the company’s stock.

First Bancorp Stock Down 0.3%

FBNC stock opened at $64.60 on Friday. 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 company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 16.27 and a beta of 0.80. First Bancorp has a fifty-two week low of $47.83 and a fifty-two week high of $67.74. The stock has a fifty day moving average of $62.78 and a 200-day moving average of $60.78.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.06. The business had revenue of $129.91 million for the quarter, compared to analysts’ expectations of $130.01 million. First Bancorp had a return on equity of 11.71% and a net margin of 26.81%. As a group, equities research analysts predict that First Bancorp will post 4.76 earnings per share for the current year.

First Bancorp Company Profile

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.