First Bancorp (NASDAQ:FBNC) Now Covered by Analysts at Stephens

Stock analysts at Stephens assumed coverage on shares of First Bancorp (NASDAQ:FBNC) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $48.00 price target on the financial services provider’s stock. Stephens’ target price points to a potential upside of 16.67% from the company’s previous close.

A number of other research firms have also commented on FBNC. Keefe, Bruyette & Woods lifted their target price on shares of First Bancorp from $49.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Janney Montgomery Scott lowered First Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday, February 7th.

First Bancorp Stock Down 0.9 %

NASDAQ FBNC opened at $41.14 on Wednesday. The stock has a market capitalization of $1.70 billion, a P/E ratio of 22.36 and a beta of 1.04. First Bancorp has a 52 week low of $29.53 and a 52 week high of $50.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average of $42.34 and a 200-day moving average of $43.46.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. First Bancorp had a return on equity of 8.04% and a net margin of 14.19%. On average, equities research analysts forecast that First Bancorp will post 3.27 EPS for the current year.

Institutional Trading of First Bancorp

A number of large investors have recently made changes to their positions in FBNC. Versant Capital Management Inc lifted its holdings in First Bancorp by 82.3% during the fourth quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 265 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of First Bancorp by 807.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,262 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 1,123 shares in the last quarter. GAMMA Investing LLC raised its position in shares of First Bancorp by 22.3% during the fourth quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 253 shares during the period. KBC Group NV lifted its holdings in shares of First Bancorp by 76.0% during the 4th quarter. KBC Group NV now owns 2,592 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 1,119 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its position in shares of First Bancorp by 157.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 3,551 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 2,171 shares during the period. Institutional investors own 68.36% of the company’s stock.

About First Bancorp

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. The company accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts.