First Trust Advisors LP grew its holdings in First Bancorp (NASDAQ:FBNC) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,291 shares of the financial services provider’s stock after purchasing an additional 1,466 shares during the quarter. First Trust Advisors LP owned approximately 0.24% of First Bancorp worth $1,822,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. American International Group Inc. raised its holdings in shares of First Bancorp by 7.0% in the 1st quarter. American International Group Inc. now owns 12,110 shares of the financial services provider’s stock valued at $355,000 after purchasing an additional 791 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of First Bancorp by 1.9% in the 1st quarter. Teachers Advisors LLC now owns 46,900 shares of the financial services provider’s stock valued at $1,374,000 after purchasing an additional 876 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of First Bancorp by 5.0% in the 1st quarter. Alliancebernstein L.P. now owns 19,010 shares of the financial services provider’s stock valued at $557,000 after purchasing an additional 900 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of First Bancorp by 250.9% in the 2nd quarter. IFP Advisors Inc now owns 3,513 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 2,512 shares in the last quarter. Finally, Credit Suisse AG raised its holdings in shares of First Bancorp by 9.3% in the 1st quarter. Credit Suisse AG now owns 42,834 shares of the financial services provider’s stock valued at $1,254,000 after purchasing an additional 3,627 shares in the last quarter. Institutional investors and hedge funds own 66.03% of the company’s stock.

First Bancorp (NASDAQ FBNC) opened at 31.12 on Thursday. First Bancorp has a 1-year low of $19.18 and a 1-year high of $32.99. The company’s 50 day moving average is $31.00 and its 200 day moving average is $30.05. The company has a market cap of $767.98 million, a price-to-earnings ratio of 21.69 and a beta of 1.16.

First Bancorp (NASDAQ:FBNC) last posted its quarterly earnings data 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. First Bancorp had a net margin of 17.52% and a return on equity of 7.77%. The business had revenue of $51.79 million during the quarter, compared to analyst estimates of $49.49 million. Equities research analysts forecast that First Bancorp will post $1.86 EPS for the current year.

Several research firms have recently commented on FBNC. ValuEngine upgraded shares of First Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Brean Capital restated 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. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $34.00 price target on shares of First Bancorp in a report on Monday, June 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $32.50.

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First Bancorp 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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Institutional Ownership by Quarter for First Bancorp (NASDAQ:FBNC)

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