First Bancorp (NASDAQ:FBNC) has earned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $39.67.
A number of analysts have recently issued reports on FBNC shares. Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Monday. Gabelli raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Thursday, April 25th. ValuEngine downgraded shares of First Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, BidaskClub raised shares of First Bancorp from a “hold” rating to a “buy” rating in a report on Saturday.
In other First Bancorp news, Director Mary Clara Capel sold 900 shares of First Bancorp stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $36.25, for a total transaction of $32,625.00. Following the transaction, the director now owns 14,012 shares of the company’s stock, valued at $507,935. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas F. Phillips sold 2,250 shares of First Bancorp stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $35.58, for a total transaction of $80,055.00. Following the transaction, the director now directly owns 84,212 shares in the company, valued at approximately $2,996,262.96. The disclosure for this sale can be found here. In the last three months, insiders sold 5,150 shares of company stock worth $184,480. 2.37% of the stock is currently owned by insiders.
NASDAQ:FBNC traded up $0.05 on Wednesday, reaching $35.82. 108 shares of the stock traded hands, compared to its average volume of 78,280. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 2.47 and a beta of 1.16. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.37. First Bancorp has a 12 month low of $30.50 and a 12 month high of $43.14. The company’s fifty day simple moving average is $35.98 and its 200 day simple moving average is $36.67.
First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $70.40 million for the quarter, compared to the consensus estimate of $69.62 million. First Bancorp had a net margin of 30.19% and a return on equity of 11.83%. Equities analysts anticipate that First Bancorp will post 3.13 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Sunday, June 30th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Thursday, June 27th. First Bancorp’s payout ratio is 15.95%.
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 deposit and individual retirement accounts.
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