11,072 Shares in First Bancorp (NASDAQ:FBNC) Purchased by one8zero8 LLC

one8zero8 LLC acquired a new position in shares of First Bancorp (NASDAQ:FBNC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 11,072 shares of the financial services provider's stock, valued at approximately $487,000.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc boosted its stake in shares of 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 purchasing an additional 265 shares during the period. GAMMA Investing LLC boosted its stake in shares of First Bancorp by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider's stock valued at $61,000 after purchasing an additional 253 shares during the period. KBC Group NV boosted its stake in shares of First Bancorp by 76.0% in the fourth quarter. KBC Group NV now owns 2,592 shares of the financial services provider's stock valued at $114,000 after purchasing an additional 1,119 shares during the period. Salem Investment Counselors Inc. boosted its stake in shares of First Bancorp by 157.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 3,551 shares of the financial services provider's stock valued at $157,000 after purchasing an additional 2,171 shares during the period. Finally, Stifel Financial Corp purchased a new position in shares of First Bancorp in the third quarter valued at $205,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FBNC shares. Keefe, Bruyette & Woods upped their target price on shares of First Bancorp from $49.00 to $56.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Janney Montgomery Scott downgraded shares of First Bancorp from a "buy" rating to a "neutral" rating in a research note on Friday, February 7th.

Remove Ads

First Bancorp Stock Down 0.6 %

NASDAQ FBNC traded down $0.25 during trading hours on Thursday, reaching $40.36. 226,636 shares of the company traded hands, compared to its average volume of 166,100. First Bancorp has a 12 month low of $29.53 and a 12 month high of $50.34. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.67 billion, a PE ratio of 21.93 and a beta of 1.04. The company has a 50 day moving average of $42.42 and a two-hundred day moving average of $43.47.

First Bancorp (NASDAQ:FBNC - Get Free Report) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.04. First Bancorp had a net margin of 14.19% and a return on equity of 8.04%. As a group, equities analysts expect that First Bancorp will post 3.27 earnings per share for the current year.

First Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.18%. First Bancorp's dividend payout ratio (DPR) is 47.83%.

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.