Alliancebernstein L.P. Has $36.42 Million Stock Holdings in First Bancorp (NASDAQ:FBNC)

Alliancebernstein L.P. increased its position in First Bancorp (NASDAQ:FBNC - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 828,369 shares of the financial services provider's stock after purchasing an additional 9,140 shares during the quarter. Alliancebernstein L.P. owned approximately 2.00% of First Bancorp worth $36,423,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in First Bancorp by 20.0% in the third quarter. Franklin Resources Inc. now owns 1,784,208 shares of the financial services provider's stock valued at $77,649,000 after purchasing an additional 297,144 shares during the last quarter. Greenwood Capital Associates LLC raised its holdings in First Bancorp by 979.3% in the fourth quarter. Greenwood Capital Associates LLC now owns 247,336 shares of the financial services provider's stock worth $10,875,000 after purchasing an additional 224,419 shares during the period. JPMorgan Chase & Co. boosted its position in shares of First Bancorp by 220.6% during the third quarter. JPMorgan Chase & Co. now owns 104,609 shares of the financial services provider's stock worth $4,351,000 after purchasing an additional 71,977 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of First Bancorp in the 4th quarter valued at $2,434,000. Finally, Barclays PLC increased its position in shares of First Bancorp by 142.3% in the 3rd quarter. Barclays PLC now owns 79,906 shares of the financial services provider's stock valued at $3,324,000 after buying an additional 46,930 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FBNC shares. Janney Montgomery Scott cut First Bancorp from a "buy" rating to a "neutral" rating in a research note on Friday, February 7th. Stephens began coverage on First Bancorp in a research note on Wednesday, March 26th. They set an "overweight" rating and a $48.00 target price for the company.

First Bancorp Stock Performance

Shares of FBNC traded down $1.98 during trading hours on Thursday, hitting $36.22. The company had a trading volume of 45,381 shares, compared to its average volume of 178,373. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 19.68 and a beta of 0.89. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average of $40.94 and a 200-day moving average of $43.09. First Bancorp has a 12 month low of $29.53 and a 12 month high of $50.34.

First Bancorp (NASDAQ:FBNC - Get Free Report) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.72 by $0.04. First Bancorp had a return on equity of 8.04% and a net margin of 14.19%. Equities analysts anticipate that First Bancorp will post 3.27 EPS for the current fiscal year.

First Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be issued a $0.22 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.88 annualized dividend and a yield of 2.43%. First Bancorp's dividend payout ratio is presently 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.