20,347 Shares in First Bancorp (NASDAQ:FBNC) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in shares of First Bancorp (NASDAQ:FBNC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 20,347 shares of the financial services provider's stock, valued at approximately $895,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FBNC. Franklin Resources Inc. raised its stake in First Bancorp by 20.0% in 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 acquiring an additional 297,144 shares during the period. Systematic Financial Management LP purchased a new stake in shares of First Bancorp during the 3rd quarter valued at approximately $562,000. Geode Capital Management LLC boosted its holdings in First Bancorp by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 976,680 shares of the financial services provider's stock worth $40,628,000 after buying an additional 12,922 shares during the period. JPMorgan Chase & Co. grew its stake in First Bancorp by 220.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 104,609 shares of the financial services provider's stock valued at $4,351,000 after buying an additional 71,977 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in First Bancorp by 85.3% during the 3rd quarter. Jane Street Group LLC now owns 69,408 shares of the financial services provider's stock valued at $2,887,000 after acquiring an additional 31,953 shares during the period. Institutional investors own 68.36% of the company's stock.

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Analysts Set New Price Targets

FBNC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price target on First Bancorp from $49.00 to $56.00 and gave the stock 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 report on Friday, February 7th.

First Bancorp Price Performance

Shares of FBNC traded up $0.53 during mid-day trading on Wednesday, reaching $39.25. 129,761 shares of the stock traded hands, compared to its average volume of 172,913. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 21.38 and a beta of 1.04. First Bancorp has a 1 year low of $29.53 and a 1 year high of $50.34. The firm has a fifty day moving average price of $42.80 and a 200 day moving average price of $43.57. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06.

First Bancorp (NASDAQ:FBNC - Get Free Report) last announced its earnings results 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 return on equity of 8.04% and a net margin of 14.19%. As a group, equities research analysts predict that First Bancorp will post 3.27 earnings per share for the current year.

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.