First Bancorp (NASDAQ:FBNC) Stake Boosted by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in First Bancorp (NASDAQ:FBNC - Free Report) by 23.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,202,960 shares of the financial services provider's stock after purchasing an additional 418,752 shares during the quarter. Franklin Resources Inc. owned about 5.33% of First Bancorp worth $96,864,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in First Bancorp by 22.3% in the 4th 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 in the last quarter. Versant Capital Management Inc grew 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 buying an additional 265 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of First Bancorp by 0.7% during the 3rd quarter. Captrust Financial Advisors now owns 65,459 shares of the financial services provider's stock valued at $2,722,000 after buying an additional 478 shares during the period. Rhumbline Advisers boosted its holdings in First Bancorp by 0.5% in the 4th quarter. Rhumbline Advisers now owns 124,541 shares of the financial services provider's stock worth $5,476,000 after acquiring an additional 621 shares during the period. Finally, Swiss National Bank raised its stake in shares of First Bancorp by 0.9% during the fourth quarter. Swiss National Bank now owns 81,100 shares of the financial services provider's stock valued at $3,566,000 after purchasing an additional 700 shares during the period. Hedge funds and other institutional investors own 68.36% of the company's stock.

First Bancorp Stock Down 0.1 %

First Bancorp stock traded down $0.04 during midday trading on Monday, hitting $36.17. The stock had a trading volume of 48,599 shares, compared to its average volume of 176,311. 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 business has a fifty day moving average price of $41.65 and a 200 day moving average price of $43.32. First Bancorp has a 12 month low of $29.53 and a 12 month high of $50.34. The stock has a market cap of $1.50 billion, a P/E ratio of 19.67 and a beta of 0.89.

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

First Bancorp Dividend Announcement

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 is Monday, March 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.43%. First Bancorp's dividend payout ratio (DPR) is 47.83%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Janney Montgomery Scott lowered shares of First Bancorp from a "buy" rating to a "neutral" rating in a report on Friday, February 7th. Stephens started 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.

About First Bancorp

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.