Zacks Research downgraded shares of First Bancorp (NASDAQ:FBNC – Free Report) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, First Bancorp has an average rating of “Hold” and an average price target of $56.67. Get First Bancorp alerts:Check Out Our Latest Research Report on FBNCFirst Bancorp Stock Down 0.5%First Bancorp stock opened at $52.89 on Monday. First Bancorp Company Profile(Get Free Report)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.