First Bancorp (NASDAQ:FBNC)‘s stock had its “buy” rating reissued by equities research analysts at Brean Capital in a note issued to investors on Tuesday.

A number of other research firms also recently weighed in on FBNC. Zacks Investment Research upgraded First Bancorp from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Thursday, July 27th. ValuEngine upgraded First Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $37.00 target price on shares of First Bancorp in a research report on Thursday, October 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. First Bancorp presently has an average rating of “Buy” and an average target price of $36.25.

WARNING: “First Bancorp (FBNC) Stock Rating Reaffirmed by Brean Capital” was originally posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this piece on another domain, it was stolen and reposted in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://theolympiareport.com/2017/11/02/first-bancorp-fbnc-stock-rating-reaffirmed-by-brean-capital.html.

Several hedge funds have recently added to or reduced their stakes in FBNC. Bank of New York Mellon Corp raised its position in shares of First Bancorp by 12.0% during the first quarter. Bank of New York Mellon Corp now owns 157,128 shares of the financial services provider’s stock worth $4,603,000 after acquiring an additional 16,795 shares during the last quarter. Swiss National Bank raised its position in shares of First Bancorp by 30.0% during the first quarter. Swiss National Bank now owns 39,000 shares of the financial services provider’s stock worth $1,142,000 after acquiring an additional 9,000 shares during the last quarter. American International Group Inc. raised its position in shares of First Bancorp by 7.0% during the first quarter. American International Group Inc. now owns 12,110 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 791 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of First Bancorp by 5.0% during the first quarter. Alliancebernstein L.P. now owns 19,010 shares of the financial services provider’s stock worth $557,000 after acquiring an additional 900 shares during the last quarter. Finally, FMR LLC raised its position in shares of First Bancorp by 1.8% during the first quarter. FMR LLC now owns 281,896 shares of the financial services provider’s stock worth $8,257,000 after acquiring an additional 5,100 shares during the last quarter. Institutional investors own 65.84% of the company’s stock.

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.

Receive News & Ratings for First Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bancorp and related companies with Analyst Ratings Network's FREE daily email newsletter.