Shares of First Bancorp (NASDAQ:FBNC) have received an average rating of “Hold” from the nine analysts that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $42.00.

Several research analysts recently weighed in on FBNC shares. Brean Capital reiterated a “buy” rating on shares of First Bancorp in a research report on Monday, August 27th. BidaskClub lowered First Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, September 14th. Zacks Investment Research upgraded First Bancorp from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, September 25th. Finally, Stephens reiterated a “hold” rating and issued a $39.00 price objective on shares of First Bancorp in a research report on Thursday, November 1st.

In other news, insider Suzanne S. Deferie purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were bought at an average cost of $39.80 per share, for a total transaction of $199,000.00. Following the completion of the purchase, the insider now directly owns 132,545 shares of the company’s stock, valued at $5,275,291. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard H. Moore purchased 1,250 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were purchased at an average price of $39.79 per share, for a total transaction of $49,737.50. Following the completion of the purchase, the chief executive officer now directly owns 139,935 shares of the company’s stock, valued at $5,568,013.65. The disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Penn Capital Management Co. Inc. lifted its stake in First Bancorp by 21.3% during the third quarter. Penn Capital Management Co. Inc. now owns 52,431 shares of the financial services provider’s stock worth $2,124,000 after purchasing an additional 9,210 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in First Bancorp by 3.3% during the third quarter. TIAA CREF Investment Management LLC now owns 87,086 shares of the financial services provider’s stock worth $3,528,000 after purchasing an additional 2,767 shares in the last quarter. Teachers Advisors LLC lifted its stake in First Bancorp by 2.7% during the third quarter. Teachers Advisors LLC now owns 56,290 shares of the financial services provider’s stock worth $2,280,000 after purchasing an additional 1,464 shares in the last quarter. Maltese Capital Management LLC lifted its stake in First Bancorp by 44.7% during the third quarter. Maltese Capital Management LLC now owns 108,500 shares of the financial services provider’s stock worth $4,395,000 after purchasing an additional 33,500 shares in the last quarter. Finally, Resources Management Corp CT ADV acquired a new position in First Bancorp during the third quarter worth $460,000. Institutional investors own 67.93% of the company’s stock.

Shares of First Bancorp stock opened at $39.15 on Monday. The company has a market capitalization of $1.17 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 1.11 and a beta of 1.03. First Bancorp has a fifty-two week low of $33.88 and a fifty-two week high of $43.14. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.55.

First Bancorp (NASDAQ:FBNC) last issued its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The company had revenue of $67.22 million during the quarter, compared to analyst estimates of $67.43 million. First Bancorp had a return on equity of 10.92% and a net margin of 27.88%. Equities research analysts predict that First Bancorp will post 3.01 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Shareholders of record on Sunday, September 30th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, September 27th. First Bancorp’s dividend payout ratio (DPR) is 21.62%.

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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