First Bancorp (FBNC) Earns Buy Rating from Brean Capital

First Bancorp (NASDAQ:FBNC)‘s stock had its “buy” rating reissued by Brean Capital in a report issued on Monday.

Other equities analysts also recently issued reports about the stock. ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, January 3rd. Stephens began coverage on shares of First Bancorp in a report on Monday, December 4th. They issued an “equal weight” rating on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $41.00 price target on shares of First Bancorp in a report on Friday, December 22nd. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $42.00 price target on shares of First Bancorp in a report on Tuesday, January 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $39.50.

First Bancorp (NASDAQ:FBNC) opened at $36.50 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.78. The firm has a market cap of $1,074.00, a PE ratio of 21.26, a P/E/G ratio of 1.14 and a beta of 1.10. First Bancorp has a fifty-two week low of $27.50 and a fifty-two week high of $41.76.

In related news, insider Suzanne S. Deferie sold 12,001 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $35.67, for a total value of $428,075.67. Following the sale, the insider now directly owns 113,408 shares in the company, valued at approximately $4,045,263.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard H. Moore acquired 2,755 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was purchased at an average price of $36.00 per share, for a total transaction of $99,180.00. Following the completion of the purchase, the chief executive officer now directly owns 121,741 shares in the company, valued at approximately $4,382,676. The disclosure for this purchase can be found here. Insiders own 2.37% of the company’s stock.

A number of institutional investors have recently made changes to their positions in FBNC. Vanguard Group Inc. raised its stake in First Bancorp by 24.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,000,939 shares of the financial services provider’s stock valued at $31,290,000 after acquiring an additional 198,866 shares during the period. Macquarie Group Ltd. raised its stake in First Bancorp by 30.4% in the 3rd quarter. Macquarie Group Ltd. now owns 619,044 shares of the financial services provider’s stock valued at $21,301,000 after acquiring an additional 144,201 shares during the period. State Street Corp raised its stake in First Bancorp by 27.9% in the 2nd quarter. State Street Corp now owns 461,813 shares of the financial services provider’s stock valued at $14,436,000 after acquiring an additional 100,632 shares during the period. Jennison Associates LLC bought a new stake in First Bancorp in the 3rd quarter valued at about $3,124,000. Finally, Parsec Financial Management Inc. bought a new stake in First Bancorp in the 4th quarter valued at about $3,021,000. Institutional investors and hedge funds own 56.72% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “First Bancorp (FBNC) Earns Buy Rating from Brean Capital” was first posted by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://www.com-unik.info/2018/01/31/first-bancorp-fbnc-earns-buy-rating-from-brean-capital.html.

First Bancorp Company Profile

First Bancorp is the bank holding company for First Bank (the Bank). The Company’s principal activity is the ownership and operation of First Bank. The Bank engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Bank offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.

Receive News & Ratings for First Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit