Why First Bancorp (FBNC) Stock Is Trading Up Today
Update: 2025-11-03
Description
First Bancorp's stock surges after Piper Sandler upgrades it from Neutral to Overweight, raising the price target to $58. The regional banking company's strong third quarter results, including a solid balance sheet and improved net interest margin, caught investors' attention. Despite a 15% year-to-date increase, the stock is still 10% below its September peak. However, long-term holders have seen significant growth, with a $1000 investment five years ago now worth nearly $2000. The upgrade reflects a pattern of cautious optimism about smaller banks adapting well in a shifting interest rate environment. As the banking sector remains under watch, investors await First Bancorp's ability to maintain this momentum into the end of the year.
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