A number of research firms have changed their ratings and price targets for First Bancorp (NASDAQ: FBNC):

  • 8/2/2017 – First Bancorp had its “buy” rating reaffirmed by analysts at Brean Capital.
  • 7/31/2017 – 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. “
  • 7/28/2017 – First Bancorp was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 7/27/2017 – First Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $36.00 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. “
  • 7/26/2017 – First Bancorp was given a new $33.00 price target on by analysts at Brean Capital. They now have a “buy” rating on the stock.
  • 7/3/2017 – First Bancorp was downgraded by analysts at Zacks Investment Research from a “strong-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. “
  • 6/26/2017 – First Bancorp had its “buy” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $34.00 price target on the stock.
  • 6/9/2017 – First Bancorp is now covered by analysts at Brean Capital. They set a “buy” rating and a $33.00 price target on the stock.

Shares of First Bancorp (FBNC) traded up 0.35% during mid-day trading on Tuesday, hitting $31.72. The stock had a trading volume of 64,730 shares. The stock has a market cap of $782.79 million, a P/E ratio of 22.07 and a beta of 1.18. First Bancorp has a 52 week low of $18.21 and a 52 week high of $32.99. The stock has a 50-day moving average price of $31.14 and a 200 day moving average price of $29.81.

First Bancorp (NASDAQ:FBNC) last announced its earnings results on Tuesday, July 25th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The firm had revenue of $51.79 million for the quarter, compared to the consensus estimate of $49.49 million. First Bancorp had a net margin of 17.52% and a return on equity of 8.23%. On average, equities analysts forecast that First Bancorp will post $1.86 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Friday, June 30th were issued a $0.08 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.32 annualized dividend and a yield of 1.01%. First Bancorp’s dividend payout ratio (DPR) is presently 22.54%.

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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