First Bancorp (NASDAQ:FBNC) has received a consensus recommendation of “Buy” from the ten research firms that are presently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $41.33.

Several equities research analysts have weighed in on FBNC shares. FIG Partners upgraded First Bancorp from a “market perform” rating to an “outperform” rating in a report on Thursday, January 24th. Zacks Investment Research upgraded First Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Brean Capital set a $42.00 price target on First Bancorp and gave the stock a “buy” rating in a report on Friday, January 25th. BidaskClub upgraded First Bancorp from a “hold” rating to a “buy” rating in a report on Friday, February 22nd. Finally, Sandler O’Neill upgraded First Bancorp from a “hold” rating to a “buy” rating in a report on Monday, March 25th.

Shares of NASDAQ FBNC opened at $36.79 on Monday. The company has a current ratio of 0.99, a quick ratio of 1.01 and a debt-to-equity ratio of 0.52. First Bancorp has a 1-year low of $30.50 and a 1-year high of $43.14. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 2.72 and a beta of 1.26.

First Bancorp (NASDAQ:FBNC) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.04. First Bancorp had a return on equity of 12.04% and a net margin of 30.44%. The company had revenue of $68.24 million for the quarter, compared to the consensus estimate of $67.41 million. On average, research analysts expect that First Bancorp will post 3.04 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of First Bancorp by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,380,010 shares of the financial services provider’s stock worth $55,904,000 after acquiring an additional 16,619 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of First Bancorp by 10.9% in the 3rd quarter. AQR Capital Management LLC now owns 37,715 shares of the financial services provider’s stock valued at $1,528,000 after purchasing an additional 3,696 shares during the period. Federated Investors Inc. PA boosted its position in shares of First Bancorp by 38.9% in the 3rd quarter. Federated Investors Inc. PA now owns 215,625 shares of the financial services provider’s stock valued at $8,735,000 after purchasing an additional 60,430 shares during the period. Marshall Wace LLP acquired a new stake in shares of First Bancorp in the 3rd quarter valued at about $2,073,000. Finally, Macquarie Group Ltd. boosted its position in shares of First Bancorp by 17.2% in the 4th quarter. Macquarie Group Ltd. now owns 1,036,529 shares of the financial services provider’s stock valued at $33,853,000 after purchasing an additional 152,422 shares during the period. 66.39% of the stock is owned by institutional investors and hedge funds.

First Bancorp Company Profile

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 primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificates of deposit and individual retirement accounts.

Further Reading: Capital gains and your 401(k) or IRA

Analyst Recommendations for First Bancorp (NASDAQ:FBNC)

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