First Bancorp (NASDAQ:FBNC) Stake Raised by Alliancebernstein L.P.
Alliancebernstein L.P. increased its stake in First Bancorp (NASDAQ:FBNC) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,010 shares of the financial services provider’s stock after buying an additional 900 shares during the period. Alliancebernstein L.P.’s holdings in First Bancorp were worth $557,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Dalton Greiner Hartman Maher & Co. raised its position in shares of First Bancorp by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 73,448 shares of the financial services provider’s stock valued at $2,151,000 after buying an additional 273 shares in the last quarter. First Trust Advisors LP raised its position in shares of First Bancorp by 0.6% in the first quarter. First Trust Advisors LP now owns 56,825 shares of the financial services provider’s stock valued at $1,664,000 after buying an additional 321 shares in the last quarter. American International Group Inc. raised its position in shares of First Bancorp by 7.0% in the first quarter. American International Group Inc. now owns 12,110 shares of the financial services provider’s stock valued at $355,000 after buying an additional 791 shares in the last quarter. Teachers Advisors LLC raised its position in shares of First Bancorp by 23.6% in the fourth quarter. Teachers Advisors LLC now owns 46,024 shares of the financial services provider’s stock valued at $1,249,000 after buying an additional 8,788 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of First Bancorp by 30.0% in the first quarter. Swiss National Bank now owns 39,000 shares of the financial services provider’s stock valued at $1,142,000 after buying an additional 9,000 shares in the last quarter. 59.49% of the stock is owned by institutional investors.
First Bancorp (NASDAQ FBNC) opened at 31.61 on Tuesday. First Bancorp has a one year low of $18.21 and a one year high of $32.99. The firm has a market capitalization of $780.07 million, a price-to-earnings ratio of 22.00 and a beta of 1.18. The firm’s 50-day moving average is $31.14 and its 200 day moving average is $29.81.
First Bancorp (NASDAQ:FBNC) last released its earnings results on Tuesday, July 25th. The financial services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The firm had revenue of $51.79 million during the quarter, compared to analysts’ expectations of $49.49 million. First Bancorp had a net margin of 17.52% and a return on equity of 8.23%. Analysts forecast that First Bancorp will post $1.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Friday, June 30th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Wednesday, June 28th. First Bancorp’s payout ratio is currently 22.54%.
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Several research analysts have weighed in on the stock. Brean Capital reissued a “buy” rating on shares of First Bancorp in a report on Wednesday, August 2nd. Zacks Investment Research lowered shares of First Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, July 3rd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $34.00 price objective on shares of First Bancorp in a report on Monday, June 26th. Finally, ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. First Bancorp has a consensus rating of “Buy” and a consensus target price of $32.50.
First Bancorp Company Profile
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 Bank engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Bank offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.
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