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.
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.
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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.
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