First Bancorp (NASDAQ:FBNC)‘s stock had its “buy” rating reaffirmed by investment analysts at Piper Jaffray Companies in a note issued to investors on Tuesday. They currently have a $42.00 target price on the financial services provider’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 14.13% from the company’s previous close.

A number of other equities research analysts also recently commented on FBNC. ValuEngine raised First Bancorp from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research raised First Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, January 3rd. Brean Capital reaffirmed a “buy” rating on shares of First Bancorp in a research report on Tuesday, January 2nd. Stephens assumed coverage on First Bancorp in a research report on Monday, December 4th. They issued an “equal weight” rating for the company. Finally, BidaskClub downgraded First Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. First Bancorp has a consensus rating of “Buy” and an average price target of $39.50.

Shares of First Bancorp (NASDAQ FBNC) traded up $0.64 during trading hours on Tuesday, hitting $36.80. The stock had a trading volume of 100,423 shares, compared to its average volume of 104,665. The stock has a market capitalization of $1,090.00, a P/E ratio of 21.40, a P/E/G ratio of 1.22 and a beta of 1.10. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.05 and a current ratio of 1.05. First Bancorp has a twelve month low of $26.47 and a twelve month high of $41.76.

In other news, CEO Richard H. Moore purchased 2,755 shares of the stock in a transaction on Wednesday, December 20th. The stock was purchased at an average price of $36.00 per share, with a total value of $99,180.00. Following the completion of the transaction, the chief executive officer now owns 121,741 shares in the company, valued at $4,382,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suzanne S. Deferie sold 12,001 shares of the business’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $35.67, for a total value of $428,075.67. Following the sale, the insider now directly owns 113,408 shares of the company’s stock, valued at approximately $4,045,263.36. The disclosure for this sale can be found here. 2.37% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in First Bancorp by 2.0% during the second quarter. JPMorgan Chase & Co. now owns 53,009 shares of the financial services provider’s stock valued at $1,657,000 after acquiring an additional 1,041 shares during the period. Legal & General Group Plc grew its position in First Bancorp by 23.1% during the second quarter. Legal & General Group Plc now owns 5,790 shares of the financial services provider’s stock valued at $180,000 after acquiring an additional 1,085 shares during the period. Voya Investment Management LLC grew its position in First Bancorp by 7.7% during the second quarter. Voya Investment Management LLC now owns 15,488 shares of the financial services provider’s stock valued at $484,000 after acquiring an additional 1,113 shares during the period. First Trust Advisors LP grew its position in First Bancorp by 2.6% during the second quarter. First Trust Advisors LP now owns 58,291 shares of the financial services provider’s stock valued at $1,822,000 after acquiring an additional 1,466 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in First Bancorp by 7.9% during the second quarter. Parametric Portfolio Associates LLC now owns 36,254 shares of the financial services provider’s stock valued at $1,133,000 after acquiring an additional 2,660 shares during the period. 56.51% of the stock is owned by hedge funds and other institutional investors.

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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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