First Citizens Bank & Trust Co. Invests $105,000 in First Bancorp (FBP) Stock
First Citizens Bank & Trust Co. purchased a new stake in shares of First Bancorp (NYSE:FBP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,524 shares of the bank’s stock, valued at approximately $105,000.
A number of other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. grew its position in First Bancorp by 9.8% during the second quarter. BlackRock Inc. now owns 19,334,736 shares of the bank’s stock valued at $111,947,000 after acquiring an additional 1,721,947 shares during the period. Vanguard Group Inc. grew its position in First Bancorp by 7.0% during the second quarter. Vanguard Group Inc. now owns 15,613,136 shares of the bank’s stock valued at $90,400,000 after acquiring an additional 1,027,469 shares during the period. Dimensional Fund Advisors LP grew its position in First Bancorp by 7.9% during the third quarter. Dimensional Fund Advisors LP now owns 11,713,522 shares of the bank’s stock valued at $59,974,000 after acquiring an additional 860,841 shares during the period. Frontier Capital Management Co. LLC grew its position in First Bancorp by 11.4% during the third quarter. Frontier Capital Management Co. LLC now owns 10,598,957 shares of the bank’s stock valued at $54,267,000 after acquiring an additional 1,083,233 shares during the period. Finally, FMR LLC grew its position in First Bancorp by 10.0% during the second quarter. FMR LLC now owns 7,918,617 shares of the bank’s stock valued at $45,849,000 after acquiring an additional 718,217 shares during the period. 90.29% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have issued reports on FBP. Zacks Investment Research raised First Bancorp from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research report on Tuesday. ValuEngine upgraded First Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, October 3rd. Citigroup upgraded First Bancorp from a “neutral” rating to a “buy” rating in a research note on Thursday, December 21st. Bank of America reduced their price objective on First Bancorp from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 8th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $7.50 price objective on shares of First Bancorp in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. First Bancorp currently has an average rating of “Hold” and a consensus target price of $6.60.
First Bancorp (NYSE:FBP) opened at $5.40 on Tuesday. The company has a market capitalization of $1,167.34, a PE ratio of 18.00, a price-to-earnings-growth ratio of 0.92 and a beta of 1.93. First Bancorp has a one year low of $4.48 and a one year high of $7.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03.
First Bancorp (NYSE:FBP) last issued its quarterly earnings data on Monday, November 6th. The bank reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. First Bancorp had a return on equity of 5.71% and a net margin of 9.83%. sell-side analysts expect that First Bancorp will post 0.25 EPS for the current year.
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About First Bancorp
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