First Bancorp (North Carolina) Given New $6.00 Price Target at Guggenheim (FBNC)
Investment analysts at Guggenheim decreased their price objective on shares of First Bancorp (North Carolina) (NASDAQ:FBNC) from $7.50 to $6.00 in a note issued to investors on Monday, Analyst Ratings.Net reports. The firm currently has a “neutral” rating on the stock. Guggenheim’s target price would indicate a potential downside of 57.81% from the company’s current price.
Shares of First Bancorp (NASDAQ:FBNC) traded up 0.28% during mid-day trading on Monday, hitting $14.22. 28,513 shares of the company’s stock traded hands. First Bancorp has a 52-week low of $9.52 and a 52-week high of $16.45. The stock’s 50-day moving average is $14.48 and its 200-day moving average is $14.24. The company’s market cap is $279.8 million.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 25th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Thursday, September 26th.
FBNC has been the subject of a number of other recent research reports. Analysts at Merrill Lynch initiated coverage on shares of First Bancorp (North Carolina) in a research note to investors on Friday, August 23rd. They set a “buy” rating on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of First Bancorp (North Carolina) in a research note to investors on Friday, August 23rd. They set an “outperform” rating on the stock. Finally, analysts at Sandler O’Neill upgraded shares of First Bancorp (North Carolina) to a “buy” rating in a research note to investors on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $11.90.
First Bancorp is a bank holding company. The Company’s principal activity is the ownership and operation of First Bank (NASDAQ:FBNC), a state-chartered bank.
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