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Taylor Frederick Leslie, a director at First Bancorp (NASDAQ:FBNC), recently acquired additional shares of the company’s common stock. According to a filing with the Securities and Exchange Commission, Leslie purchased a total of 5,800 shares on May 22, 2025. The transactions were executed at prices ranging from $41.04 to $41.285 per share, amounting to a total investment of $239,315. The purchase occurred near the stock’s current trading level of $40.97, with InvestingPro data showing analyst targets suggesting up to 20% upside potential. Following these transactions, Leslie’s direct ownership in the company increased to 38,444 shares. First Bancorp, currently valued at $1.7 billion, has maintained dividend payments for 39 consecutive years, offering a 2.15% yield. InvestingPro analysis indicates the stock is slightly undervalued, with additional insights available through their premium service.
In other recent news, First Bancorp announced a cash dividend of $0.22 per share, set for payment on April 25, 2025, following a strong financial performance in the fourth quarter. This move underscores the company’s commitment to shareholder returns, as highlighted by CEO Richard Moore. Additionally, First Bancorp’s recent annual shareholder meeting resulted in the election of 11 directors, the ratification of Crowe, LLP as independent auditors, and the approval of executive compensation. The meeting also saw shareholders favoring annual "Say-on-Pay" votes.
Analysts have been active in their assessments of First Bancorp. Stephens analyst Russell Gunther raised the company’s price target to $50.00, maintaining an Overweight rating, after First Bancorp’s core pre-provision net revenue exceeded expectations. Gunther pointed out the company’s expanding net interest margin and solid loan portfolio as positive indicators. Meanwhile, Keefe, Bruyette & Woods adjusted their price target from $51.00 to $50.00, keeping an Outperform rating, after the company surpassed first-quarter financial expectations.
Piper Sandler initiated coverage with a Neutral rating and a price target of $48.00, noting the bank’s ability to expand its net interest margin even in a declining rate environment. Despite the positive outlook, the Neutral rating was influenced by the stock’s current valuation compared to its peers. These developments provide investors with a range of insights into First Bancorp’s current financial health and future prospects.
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