First Bancorp (NASDAQ:FBNC) PT Set at $33.00 by Brean Capital
Other analysts also recently issued reports about the company. Keefe, Bruyette & Woods restated a buy rating and issued a $34.00 price target on shares of First Bancorp in a research note on Monday, June 26th. ValuEngine upgraded First Bancorp from a hold rating to a buy rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research upgraded First Bancorp from a hold rating to a buy rating and set a $34.00 price target for the company in a research note on Monday, May 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. First Bancorp presently has an average rating of Buy and an average target price of $32.50.
First Bancorp (FBNC) opened at 31.47 on Wednesday. First Bancorp has a one year low of $18.21 and a one year high of $32.99. The stock’s 50 day moving average price is $31.11 and its 200-day moving average price is $29.73. The firm has a market capitalization of $776.62 million, a price-to-earnings ratio of 21.90 and a beta of 1.19.
First Bancorp (NASDAQ:FBNC) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The business had revenue of $51.79 million during the quarter, compared to the consensus estimate of $49.49 million. First Bancorp had a return on equity of 8.23% and a net margin of 17.52%. On average, equities research analysts expect that First Bancorp will post $1.82 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.32 annualized dividend and a yield of 1.02%. First Bancorp’s dividend payout ratio is presently 22.54%.
In related news, Director James C. Crawford III acquired 1,000 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was purchased at an average cost of $28.81 per share, with a total value of $28,810.00. Following the acquisition, the director now directly owns 62,777 shares of the company’s stock, valued at $1,808,605.37. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 2,500 shares of company stock valued at $73,195 over the last ninety days. Insiders own 1.89% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Dalton Greiner Hartman Maher & Co. boosted its position in shares of First Bancorp by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 73,448 shares of the financial services provider’s stock valued at $2,151,000 after buying an additional 273 shares in the last quarter. First Trust Advisors LP boosted its position in shares of First Bancorp by 0.6% in the first quarter. First Trust Advisors LP now owns 56,825 shares of the financial services provider’s stock valued at $1,664,000 after buying an additional 321 shares in the last quarter. American International Group Inc. boosted its position in shares of First Bancorp by 7.0% in the first quarter. American International Group Inc. now owns 12,110 shares of the financial services provider’s stock valued at $355,000 after buying an additional 791 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of First Bancorp by 1.9% in the first quarter. Teachers Advisors LLC now owns 46,900 shares of the financial services provider’s stock valued at $1,374,000 after buying an additional 876 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of First Bancorp by 5.0% in the first quarter. Alliancebernstein L.P. now owns 19,010 shares of the financial services provider’s stock valued at $557,000 after buying an additional 900 shares in the last quarter. 58.06% of the stock is owned by hedge funds and other institutional investors.
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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