First Bancorp (NASDAQ:FBNC) – Equities research analysts at FIG Partners issued their FY2017 earnings estimates for shares of First Bancorp in a report issued on Wednesday. FIG Partners analyst C. Marinac anticipates that the financial services provider will post earnings per share of $2.00 for the year. FIG Partners also issued estimates for First Bancorp’s Q4 2017 earnings at $0.51 EPS, Q1 2018 earnings at $0.51 EPS, Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.63 EPS and FY2018 earnings at $2.34 EPS.
A number of other research analysts have also weighed in on FBNC. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $37.00 price objective on shares of First Bancorp in a research report on Thursday, October 5th. Zacks Investment Research raised First Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday, October 5th. Finally, Brean Capital reissued a “buy” rating on shares of First Bancorp in a report on Tuesday, October 31st. Five analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $36.25.
Several hedge funds have recently modified their holdings of FBNC. Dimensional Fund Advisors LP boosted its holdings in shares of First Bancorp by 4.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,294,316 shares of the financial services provider’s stock valued at $44,537,000 after purchasing an additional 59,041 shares during the period. Vanguard Group Inc. lifted its holdings in First Bancorp by 24.8% during the second quarter. Vanguard Group Inc. now owns 1,000,939 shares of the financial services provider’s stock worth $31,290,000 after buying an additional 198,866 shares during the period. Macquarie Group Ltd. lifted its holdings in First Bancorp by 30.4% during the third quarter. Macquarie Group Ltd. now owns 619,044 shares of the financial services provider’s stock worth $21,301,000 after buying an additional 144,201 shares during the period. Banc Funds Co. LLC lifted its holdings in First Bancorp by 18.5% during the second quarter. Banc Funds Co. LLC now owns 592,556 shares of the financial services provider’s stock worth $18,523,000 after buying an additional 92,392 shares during the period. Finally, State Street Corp increased its position in shares of First Bancorp by 27.9% during the second quarter. State Street Corp now owns 461,813 shares of the financial services provider’s stock worth $14,436,000 after purchasing an additional 100,632 shares in the last quarter. 56.51% of the stock is currently owned by hedge funds and other institutional investors.
About First Bancorp
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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