First Bancorp (FBNC) Trading Up 4.4%
First Bancorp (NASDAQ:FBNC) was up 4.4% on Tuesday . The stock traded as high as $19.91 and last traded at $19.78, with a volume of 76,844 shares traded. The stock had previously closed at $18.95.
Several equities research analysts have weighed in on FBNC shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $20.00 price target on shares of First Bancorp in a research report on Sunday, June 26th. FIG Partners downgraded First Bancorp from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $22.00 to $22.50 in a research report on Wednesday, May 11th. Finally, Zacks Investment Research raised First Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. First Bancorp currently has a consensus rating of “Buy” and a consensus target price of $22.17.
The firm has a market cap of $395.11 million and a PE ratio of 14.34. The company’s 50 day moving average price is $18.54 and its 200-day moving average price is $18.98.
First Bancorp (NASDAQ:FBNC) last issued its earnings results on Tuesday, July 26th. The financial services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. On average, equities analysts predict that First Bancorp will post $1.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 25th. Investors of record on Thursday, June 30th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.63%.
In related news, Director James C. Crawford III purchased 2,000 shares of First Bancorp stock in a transaction that occurred on Monday, August 15th. The stock was purchased at an average cost of $18.63 per share, with a total value of $37,260.00. Following the completion of the transaction, the director now directly owns 59,777 shares in the company, valued at $1,113,645.51. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard H. Moore purchased 2,800 shares of First Bancorp stock in a transaction that occurred on Friday, June 24th. The stock was bought at an average cost of $17.78 per share, with a total value of $49,784.00. Following the completion of the transaction, the chief executive officer now owns 95,317 shares of the company’s stock, valued at $1,694,736.26. The disclosure for this purchase can be found here.
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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