StockNews.com Upgrades First Bancorp (NASDAQ:FBNC) to Hold

First Bancorp (NASDAQ:FBNC - Get Free Report) was upgraded by investment analysts at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Monday.

Several other analysts have also recently commented on FBNC. Stephens raised their price target on shares of First Bancorp from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday. Keefe, Bruyette & Woods dropped their price target on shares of First Bancorp from $51.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Janney Montgomery Scott lowered shares of First Bancorp from a "buy" rating to a "neutral" rating in a research report on Friday, February 7th.

First Bancorp Stock Up 2.0 %

FBNC stock traded up $0.81 during midday trading on Monday, hitting $41.27. 258,966 shares of the company's stock were exchanged, compared to its average volume of 182,937. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. First Bancorp has a 12-month low of $29.53 and a 12-month high of $50.34. The firm has a 50 day moving average price of $39.30 and a 200-day moving average price of $42.73. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 22.43 and a beta of 0.89.

First Bancorp (NASDAQ:FBNC - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. First Bancorp had a net margin of 14.19% and a return on equity of 8.04%. The company had revenue of $105.79 million during the quarter, compared to analysts' expectations of $105.81 million. On average, analysts anticipate that First Bancorp will post 3.27 EPS for the current year.

Institutional Investors Weigh In On First Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in FBNC. Versant Capital Management Inc boosted its position in First Bancorp by 82.3% in the fourth quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider's stock valued at $26,000 after buying an additional 265 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of First Bancorp by 807.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,262 shares of the financial services provider's stock worth $55,000 after buying an additional 1,123 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 buying an additional 253 shares in the last quarter. KBC Group NV increased its holdings in shares of First Bancorp by 76.0% during the fourth quarter. KBC Group NV now owns 2,592 shares of the financial services provider's stock worth $114,000 after buying an additional 1,119 shares in the last quarter. Finally, Blue Trust Inc. acquired a new stake in shares of First Bancorp during the first quarter worth approximately $128,000. Institutional investors and hedge funds own 68.36% of the company's stock.

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. 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.