First Bancorp (FBNC) Raised to Sell at BidaskClub

BidaskClub upgraded shares of First Bancorp (NASDAQ:FBNC) from a strong sell rating to a sell rating in a research note issued to investors on Saturday, BidAskClub reports.

Several other equities analysts have also recently weighed in on the stock. Sandler O’Neill raised shares of First Bancorp from a hold rating to a buy rating in a research note on Monday, March 25th. Brean Capital reissued a buy rating on shares of First Bancorp in a research note on Monday, March 18th. Zacks Investment Research raised shares of First Bancorp from a hold rating to a buy rating and set a $43.00 price objective for the company in a research note on Wednesday, February 13th. FIG Partners raised shares of First Bancorp from a market perform rating to an outperform rating in a research note on Thursday, January 24th. Finally, ValuEngine raised shares of First Bancorp from a sell rating to a hold rating in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $41.25.

FBNC opened at $36.09 on Friday. The firm has a market cap of $1.09 billion, a P/E ratio of 11.99, a P/E/G ratio of 2.48 and a beta of 1.24. First Bancorp has a fifty-two week low of $30.50 and a fifty-two week high of $43.14. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.01 and a quick ratio of 1.01.



First Bancorp (NASDAQ:FBNC) last posted its earnings results on Wednesday, January 23rd. The financial services provider reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The company had revenue of $68.25 million during the quarter, compared to analysts’ expectations of $68.41 million. First Bancorp had a net margin of 30.47% and a return on equity of 12.16%. As a group, research analysts predict that First Bancorp will post 3 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Sunday, March 31st will be paid a $0.12 dividend. This is a boost from First Bancorp’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, March 28th. First Bancorp’s dividend payout ratio (DPR) is presently 15.95%.

Several large investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in shares of First Bancorp by 3.0% in the 4th quarter. BlackRock Inc. now owns 2,175,436 shares of the financial services provider’s stock worth $71,049,000 after buying an additional 62,939 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First Bancorp by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,513,497 shares of the financial services provider’s stock worth $49,431,000 after acquiring an additional 25,247 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of First Bancorp by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 1,380,010 shares of the financial services provider’s stock worth $55,904,000 after acquiring an additional 16,619 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of First Bancorp by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,380,010 shares of the financial services provider’s stock worth $55,904,000 after acquiring an additional 16,619 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of First Bancorp in the 4th quarter worth about $34,515,000. 66.46% of the stock is owned by institutional investors and hedge funds.

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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