LPL Financial LLC Increases Stake in First Bancorp (NASDAQ:FBNC)

LPL Financial LLC boosted its holdings in shares of First Bancorp (NASDAQ:FBNC - Free Report) by 56.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,807 shares of the financial services provider's stock after acquiring an additional 17,230 shares during the period. LPL Financial LLC owned 0.12% of First Bancorp worth $2,102,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FBNC. Franklin Resources Inc. increased its position in First Bancorp by 20.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,784,208 shares of the financial services provider's stock valued at $77,649,000 after buying an additional 297,144 shares in the last quarter. Greenwood Capital Associates LLC increased its holdings in shares of First Bancorp by 979.3% during the fourth quarter. Greenwood Capital Associates LLC now owns 247,336 shares of the financial services provider's stock valued at $10,875,000 after acquiring an additional 224,419 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of First Bancorp by 220.6% in the 3rd 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 during the last quarter. Raymond James Financial Inc. bought a new position in First Bancorp in the 4th quarter worth about $2,434,000. Finally, Barclays PLC grew its position in First Bancorp by 142.3% during the 3rd quarter. Barclays PLC now owns 79,906 shares of the financial services provider's stock valued at $3,324,000 after purchasing an additional 46,930 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

Analyst Upgrades and Downgrades

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

First Bancorp Stock Performance

NASDAQ:FBNC traded up $0.30 during mid-day trading on Friday, reaching $37.12. The company's stock had a trading volume of 207,666 shares, compared to its average volume of 180,340. The firm's fifty day moving average price is $39.84 and its two-hundred day moving average price is $42.87. 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 cap of $1.53 billion, a P/E ratio of 20.17 and a beta of 0.89. 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 issued its quarterly earnings data 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 net margin of 14.19% and a return on equity of 8.04%. On average, equities analysts forecast that First Bancorp will post 3.27 EPS for the current fiscal year.

First Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a $0.22 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.37%. First Bancorp's dividend payout ratio (DPR) is currently 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.