First Bancorp (NASDAQ:FBNC – Get Free Report) has earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $62.25.
Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of First Bancorp from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Piper Sandler downgraded shares of First Bancorp from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $58.00 to $64.00 in a research report on Saturday, February 7th. Zacks Research raised shares of First Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Wall Street Zen raised shares of First Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings raised shares of First Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 18th.
View Our Latest Research Report on FBNC
Insider Buying and Selling at First Bancorp
Institutional Investors Weigh In On First Bancorp
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of First Bancorp by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 2,849,425 shares of the financial services provider’s stock valued at $144,722,000 after buying an additional 11,439 shares during the last quarter. State Street Corp grew its position in shares of First Bancorp by 9.2% during the 4th quarter. State Street Corp now owns 2,012,273 shares of the financial services provider’s stock valued at $102,661,000 after buying an additional 169,363 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of First Bancorp by 48.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,314,341 shares of the financial services provider’s stock valued at $69,516,000 after buying an additional 429,769 shares during the last quarter. Jennison Associates LLC grew its position in shares of First Bancorp by 34.1% during the 1st quarter. Jennison Associates LLC now owns 974,221 shares of the financial services provider’s stock valued at $54,897,000 after buying an additional 247,859 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in shares of First Bancorp by 39.4% during the 3rd quarter. Schroder Investment Management Group now owns 576,596 shares of the financial services provider’s stock valued at $30,502,000 after buying an additional 163,026 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.
First Bancorp Price Performance
FBNC opened at $58.65 on Friday. The company has a 50-day moving average of $57.15 and a 200-day moving average of $55.59. The company has a market capitalization of $2.43 billion, a P/E ratio of 20.02 and a beta of 0.82. First Bancorp has a 1-year low of $40.00 and a 1-year high of $62.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.84 and a current ratio of 0.85.
First Bancorp (NASDAQ:FBNC – Get Free Report) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. The company had revenue of $122.29 million during the quarter, compared to the consensus estimate of $123.21 million. First Bancorp had a net margin of 20.59% and a return on equity of 10.86%. Equities analysts expect that First Bancorp will post 4.75 EPS for the current fiscal year.
About First Bancorp
First Bancorp operates as the bank holding company for First Bank, offering a broad range of commercial and consumer banking services. Its core offerings include business lending, treasury and cash management, residential and commercial mortgage financing, and consumer deposit products. Through its subsidiary, First Bank provides online and branch-based banking solutions, including checking and savings accounts, certificate of deposits, and digital banking tools designed to meet the needs of individuals, small- to mid-sized businesses, and professional institutions.
The company maintains a network of full-service banking centers and loan production offices across North Carolina and South Carolina, with a focus on markets in the Piedmont, Sandhills and coastal regions.
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