First Bancorp (NASDAQ: FBNC) recently received a number of ratings updates from brokerages and research firms:

  • 1/9/2018 – First Bancorp had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $42.00 price target on the stock.
  • 1/3/2018 – First Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $40.00 price target on the stock. 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. “
  • 1/2/2018 – First Bancorp had its “buy” rating reaffirmed by analysts at Brean Capital.
  • 12/31/2017 – First Bancorp was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 12/26/2017 – First Bancorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 12/22/2017 – First Bancorp had its “buy” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $41.00 price target on the stock.
  • 12/21/2017 – First Bancorp was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 12/5/2017 – First Bancorp had its “buy” rating reaffirmed by analysts at Brean Capital.
  • 12/4/2017 – First Bancorp is now covered by analysts at Stephens. They set an “equal weight” rating on the stock.

Shares of First Bancorp (FBNC) opened at $36.80 on Friday. The firm has a market cap of $1,090.00, a PE ratio of 21.40, a PEG 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 52 week low of $26.47 and a 52 week high of $41.76.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Sunday, December 31st will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Thursday, December 28th. First Bancorp’s payout ratio is 18.60%.

In other First Bancorp news, CEO Richard H. Moore acquired 2,755 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The shares were acquired at an average price of $36.00 per share, with a total value of $99,180.00. Following the completion of the purchase, the chief executive officer now directly owns 121,741 shares of the company’s stock, valued at approximately $4,382,676. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $35.67, for a total transaction of $428,075.67. Following the sale, the insider now directly owns 113,408 shares in the company, valued at approximately $4,045,263.36. The disclosure for this sale can be found here. Insiders own 2.37% of the company’s stock.

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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