Proficio Capital Partners LLC Invests $895,000 in First Bancorp (NASDAQ:FBNC)

Proficio Capital Partners LLC purchased a new position in 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 fund purchased 20,347 shares of the financial services provider's stock, valued at approximately $895,000.

Several other institutional investors have also bought and sold shares of FBNC. Franklin Resources Inc. raised its stake in shares of First Bancorp by 20.0% in the third 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 during the period. Geode Capital Management LLC increased 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 acquiring an additional 12,922 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in First Bancorp by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,297 shares of the financial services provider's stock valued at $22,306,000 after acquiring an additional 13,450 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in First Bancorp by 28.2% during the third quarter. Rockefeller Capital Management L.P. now owns 423,461 shares of the financial services provider's stock valued at $17,612,000 after purchasing an additional 93,072 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in First Bancorp by 12.0% during the fourth quarter. Bank of New York Mellon Corp now owns 367,298 shares of the financial services provider's stock valued at $16,150,000 after purchasing an additional 39,362 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

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Wall Street Analyst Weigh In

FBNC has been the topic of several research reports. Janney Montgomery Scott lowered shares of First Bancorp from a "buy" rating to a "neutral" rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods increased their target price on First Bancorp from $49.00 to $56.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th.

First Bancorp Price Performance

Shares of FBNC traded down $0.37 during midday trading on Tuesday, hitting $41.14. 139,856 shares of the company traded hands, compared to its average volume of 167,470. First Bancorp has a one year low of $29.53 and a one year high of $50.34. The firm has a market cap of $1.70 billion, a P/E ratio of 22.36 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. The stock has a 50-day moving average of $42.38 and a 200-day moving average of $43.45.

First Bancorp (NASDAQ:FBNC - Get Free Report) last posted 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 net margin of 14.19% and a return on equity of 8.04%. As a group, sell-side analysts predict that First Bancorp will post 3.27 EPS for the current fiscal year.

First Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.14%. The ex-dividend date is Monday, March 31st. First Bancorp's dividend payout ratio is 47.83%.

First Bancorp Company 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.