Greenwood Capital Associates LLC Increases Stock Holdings in First Bancorp (NASDAQ:FBNC)

Greenwood Capital Associates LLC boosted its stake in First Bancorp (NASDAQ:FBNC - Free Report) by 979.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 247,336 shares of the financial services provider's stock after purchasing an additional 224,419 shares during the period. First Bancorp comprises 1.4% of Greenwood Capital Associates LLC's investment portfolio, making the stock its 11th largest position. Greenwood Capital Associates LLC owned 0.60% of First Bancorp worth $10,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. increased its stake in shares of First Bancorp by 26.3% during the fourth quarter. Hantz Financial Services Inc. now owns 42,714 shares of the financial services provider's stock valued at $1,878,000 after buying an additional 8,896 shares during the period. KBC Group NV lifted its position in First Bancorp by 76.0% during the fourth quarter. KBC Group NV now owns 2,592 shares of the financial services provider's stock valued at $114,000 after buying an additional 1,119 shares during the period. Salem Investment Counselors Inc. boosted its holdings in shares of First Bancorp by 157.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 3,551 shares of the financial services provider's stock valued at $157,000 after buying an additional 2,171 shares in the last quarter. Diversified Trust Co grew its position in shares of First Bancorp by 60.2% in the 4th quarter. Diversified Trust Co now owns 12,255 shares of the financial services provider's stock worth $539,000 after buying an additional 4,605 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of First Bancorp by 22.3% in the 4th quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider's stock worth $61,000 after acquiring an additional 253 shares in the last quarter. Institutional investors own 68.36% of the company's stock.

First Bancorp Stock Down 4.3 %

First Bancorp stock traded down $1.99 during trading hours on Friday, hitting $43.96. The stock had a trading volume of 154,963 shares, compared to its average volume of 171,728. The stock's 50-day moving average price is $44.81 and its 200-day moving average price is $43.29. The stock has a market capitalization of $1.82 billion, a P/E ratio of 23.89 and a beta of 1.04. First Bancorp has a 12-month low of $29.53 and a 12-month high of $50.34. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06.

First Bancorp (NASDAQ:FBNC - Get Free Report) last announced its quarterly earnings data 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%. Equities research analysts anticipate that First Bancorp will post 3.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FBNC shares. StockNews.com lowered shares of First Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods lifted their target price on shares of First Bancorp from $49.00 to $56.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, Janney Montgomery Scott downgraded First Bancorp from a "buy" rating to a "neutral" rating in a research note on Friday.

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.