First Bancorp’s (FBNC) “Buy” Rating Reaffirmed at Brean Capital

First Bancorp (NASDAQ:FBNC)‘s stock had its “buy” rating reaffirmed by research analysts at Brean Capital in a research report issued to clients and investors on Monday.

Other equities analysts have also issued reports about the stock. Piper Jaffray Companies upped their target price on shares of First Bancorp from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, May 17th. 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, May 2nd. BidaskClub lowered shares of First Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 12th. Finally, Sandler O’Neill lowered shares of First Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. First Bancorp has an average rating of “Hold” and an average target price of $41.25.

NASDAQ FBNC traded down $0.26 on Monday, reaching $42.58. The company had a trading volume of 945 shares, compared to its average volume of 72,702. The firm has a market cap of $1.27 billion, a PE ratio of 23.02, a PEG ratio of 1.21 and a beta of 1.05. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.56. First Bancorp has a 1-year low of $29.81 and a 1-year high of $43.14.

First Bancorp (NASDAQ:FBNC) last announced its earnings results on Thursday, July 26th. The financial services provider reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. The firm had revenue of $67.34 million during the quarter, compared to analyst estimates of $68.24 million. First Bancorp had a net margin of 26.25% and a return on equity of 10.53%. equities research analysts forecast that First Bancorp will post 3.01 EPS for the current year.

In other news, Director Mary Clara Capel sold 750 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $42.39, for a total transaction of $31,792.50. Following the completion of the transaction, the director now directly owns 13,759 shares in the company, valued at approximately $583,244.01. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Eric P. Credle sold 6,270 shares of the stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $41.97, for a total transaction of $263,151.90. Following the transaction, the insider now owns 29,927 shares of the company’s stock, valued at $1,256,036.19. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of First Bancorp by 3.2% during the 2nd quarter. BlackRock Inc. now owns 1,925,101 shares of the financial services provider’s stock worth $78,757,000 after buying an additional 58,904 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of First Bancorp by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,856 shares of the financial services provider’s stock worth $58,005,000 after buying an additional 86,499 shares during the last quarter. Mendon Capital Advisors Corp boosted its stake in shares of First Bancorp by 2.9% during the 1st quarter. Mendon Capital Advisors Corp now owns 945,019 shares of the financial services provider’s stock worth $33,690,000 after buying an additional 26,365 shares during the last quarter. RMB Capital Management LLC boosted its stake in shares of First Bancorp by 29.8% during the 1st quarter. RMB Capital Management LLC now owns 774,817 shares of the financial services provider’s stock worth $27,622,000 after buying an additional 177,685 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its stake in First Bancorp by 10.1% in the 2nd quarter. Macquarie Group Ltd. now owns 771,746 shares of the financial services provider’s stock valued at $31,572,000 after purchasing an additional 70,781 shares during the last quarter. Institutional investors own 65.04% 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 deposits and individual retirement accounts.

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Analyst Recommendations for First Bancorp (NASDAQ:FBNC)

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