First Bancorp (FBNC) Upgraded by Zacks Investment Research to Hold
According to Zacks, “First Bancorp is a one-bank holding company. The principal activity of the Company is the ownership and operation of First Bank. They also own and operate two nonbank subsidiaries, Montgomery Data Services, Inc. and First Bancorp Financial Services, Inc. “
Separately, Keefe, Bruyette & Woods reaffirmed a buy rating and set a $24.00 price target on shares of First Bancorp in a research report on Tuesday, August 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $22.17.
First Bancorp (NASDAQ:FBNC) traded down 0.05% on Monday, reaching $20.28. The company’s stock had a trading volume of 987 shares. The stock’s 50 day moving average price is $19.84 and its 200 day moving average price is $19.25. The firm has a market cap of $407.36 million, a PE ratio of 14.78 and a beta of 1.24. First Bancorp has a 52-week low of $17.15 and a 52-week high of $21.94.
First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. First Bancorp had a return on equity of 8.29% and a net margin of 18.91%. Equities research analysts expect that First Bancorp will post $1.30 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Friday, September 30th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.32 dividend on an annualized basis and a yield of 1.58%. First Bancorp’s dividend payout ratio (DPR) is 23.36%.
In related news, Director James C. Crawford III acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were acquired at an average price of $18.63 per share, with a total value of $37,260.00. Following the acquisition, the director now owns 59,777 shares of the company’s stock, valued at approximately $1,113,645.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.37% of the company’s stock.
A number of hedge funds have recently modified their holdings of FBNC. BlackRock Advisors LLC boosted its stake in shares of First Bancorp by 1.4% in the second quarter. BlackRock Advisors LLC now owns 9,491 shares of the financial services provider’s stock worth $167,000 after buying an additional 130 shares during the period. First Trust Advisors LP raised its position in shares of First Bancorp by 0.5% in the second quarter. First Trust Advisors LP now owns 29,262 shares of the financial services provider’s stock worth $514,000 after buying an additional 147 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of First Bancorp by 0.6% in the second quarter. Parametric Portfolio Associates LLC now owns 48,154 shares of the financial services provider’s stock worth $847,000 after buying an additional 299 shares in the last quarter. Oak Associates Ltd. OH raised its position in shares of First Bancorp by 0.9% in the first quarter. Oak Associates Ltd. OH now owns 57,275 shares of the financial services provider’s stock worth $1,080,000 after buying an additional 530 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of First Bancorp by 1.1% in the second quarter. Royal Bank of Canada now owns 70,154 shares of the financial services provider’s stock worth $1,234,000 after buying an additional 730 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.
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 Company engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Company offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.
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