First Bancorp (North Carolina) Price Target Cut to $7.00 (FBNC)
Sandler O’Neill dropped their price objective on shares of First Bancorp (North Carolina) (NASDAQ:FBNC) from $8.50 to $7.00 in a research note issued on Thursday, Analyst Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Sandler O’Neill’s target price would indicate a potential downside of 53.33% from the stock’s previous close.
A number of other firms have also recently commented on FBNC. Analysts at Credit Suisse cut their price target on shares of First Bancorp (North Carolina) from $10.00 to $9.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Guggenheim cut their price target on shares of First Bancorp (North Carolina) from $7.50 to $6.00 in a research note to investors on Monday, October 7th. They now have a “neutral” rating on the stock. Finally, 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. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $10.60.
Shares of First Bancorp (NASDAQ:FBNC) traded down 0.60% during mid-day trading on Thursday, hitting $15.00. The stock had a trading volume of 37,136 shares. First Bancorp has a 1-year low of $9.52 and a 1-year high of $16.45. The stock’s 50-day moving average is $14.90 and its 200-day moving average is $14.13. The company’s market cap is $295.2 million.
First Bancorp (North Carolina) (NASDAQ:FBNC) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.24 by $0.06. During the same quarter in the prior year, the company posted $0.22 earnings per share. On average, analysts predict that First Bancorp will post $0.88 earnings per share for the current fiscal year.
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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