First Bancorp (NASDAQ:FBNC) Holdings Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in shares of First Bancorp (NASDAQ:FBNC - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 507,297 shares of the financial services provider's stock after purchasing an additional 13,450 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.23% of First Bancorp worth $22,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FBNC. Empowered Funds LLC grew its holdings in First Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 69,180 shares of the financial services provider's stock valued at $2,877,000 after buying an additional 3,484 shares during the period. Natixis Advisors LLC purchased a new stake in First Bancorp in the 3rd quarter valued at about $1,275,000. Princeton Capital Management LLC purchased a new stake in First Bancorp in the 3rd quarter valued at about $303,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in First Bancorp in the 3rd quarter valued at about $659,000. Finally, Intech Investment Management LLC purchased a new stake in First Bancorp in the 3rd quarter valued at about $384,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

Wall Street Analyst Weigh In

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

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First Bancorp Stock Up 0.4 %

First Bancorp stock traded up $0.16 during midday trading on Friday, hitting $40.52. 529,788 shares of the company were exchanged, compared to its average volume of 167,541. The company's fifty day moving average price is $42.37 and its 200-day moving average price is $43.43. The company has a market cap of $1.68 billion, a PE ratio of 22.02 and a beta of 1.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81. First Bancorp has a fifty-two week low of $29.53 and a fifty-two week high of $50.34.

First Bancorp (NASDAQ:FBNC - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, topping 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%. On average, research analysts predict that First Bancorp will post 3.27 EPS for the current fiscal 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 given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, March 31st. First Bancorp's payout ratio is 47.83%.

First Bancorp 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.