First Bancorp (FBNC) Stake Held by Swiss National Bank
Swiss National Bank held its position in First Bancorp (NASDAQ:FBNC) during the second quarter, Holdings Channel reports. The institutional investor owned 30,000 shares of the financial services provider’s stock at the end of the second quarter. Swiss National Bank owned about 0.15% of First Bancorp worth $527,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of FBNC. Menta Capital LLC boosted its position in First Bancorp by 12.5% in the first quarter. Menta Capital LLC now owns 15,473 shares of the financial services provider’s stock worth $292,000 after buying an additional 1,720 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in First Bancorp during the second quarter worth $279,000. Strs Ohio boosted its position in First Bancorp by 2.6% in the second quarter. Strs Ohio now owns 35,300 shares of the financial services provider’s stock worth $620,000 after buying an additional 900 shares during the last quarter. Oak Associates Ltd. OH boosted its position in First Bancorp by 0.9% in the first quarter. Oak Associates Ltd. OH now owns 57,275 shares of the financial services provider’s stock worth $1,080,000 after buying an additional 530 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. purchased a new position in First Bancorp during the second quarter worth $1,165,000. 53.16% of the stock is owned by institutional investors.
First Bancorp (NASDAQ:FBNC) traded up 0.61% during trading on Friday, reaching $19.93. 16,520 shares of the company were exchanged. The firm has a 50-day moving average of $19.87 and a 200-day moving average of $19.27. First Bancorp has a 52-week low of $17.15 and a 52-week high of $21.94. The firm has a market cap of $400.33 million, a price-to-earnings ratio of 14.53 and a beta of 1.24.
First Bancorp (NASDAQ:FBNC) last announced its earnings results on Tuesday, July 26th. The financial services provider reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.03. First Bancorp had a net margin of 18.91% and a return on equity of 8.29%. On average, equities analysts forecast that First Bancorp will post $1.30 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Friday, September 30th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Wednesday, September 28th. First Bancorp’s dividend payout ratio is presently 23.36%.
A number of research firms have weighed in on FBNC. Zacks Investment Research cut shares of First Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $20.00 price objective on shares of First Bancorp in a research note on Sunday, June 26th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $22.17.
In related news, Director James C. Crawford III bought 2,000 shares of the company’s stock in a transaction on Monday, August 15th. The stock was bought at an average cost of $18.63 per share, with a total value of $37,260.00. Following the completion of the purchase, the director now owns 59,777 shares in the company, valued at approximately $1,113,645.51. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.37% of the stock is currently owned by company insiders.
About First Bancorp
First Bancorp is the bank holding company for First Bank (the Bank). The Company’s principal activity is the ownership and operation of First Bank. The Company engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Company offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.
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