Natixis Advisors L.P. increased its stake in First Bancorp (NASDAQ:FBNC) by 7.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,633 shares of the financial services provider’s stock after purchasing an additional 7,107 shares during the quarter. Natixis Advisors L.P. owned 0.33% of First Bancorp worth $3,936,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of FBNC. Tower Research Capital LLC TRC increased its holdings in shares of First Bancorp by 1,919.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,151 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 1,094 shares during the period. SG Americas Securities LLC acquired a new position in shares of First Bancorp during the third quarter worth about $112,000. Voloridge Investment Management LLC acquired a new position in shares of First Bancorp during the third quarter worth about $202,000. Gamco Investors INC. ET AL acquired a new position in shares of First Bancorp during the third quarter worth about $215,000. Finally, Resources Management Corp CT ADV acquired a new position in shares of First Bancorp during the third quarter worth about $334,000. Institutional investors own 69.85% of the company’s stock.
Shares of FBNC traded down $1.02 during mid-day trading on Friday, hitting $32.24. The company’s stock had a trading volume of 4,710 shares, compared to its average volume of 72,567. The company’s 50-day moving average is $36.86 and its 200-day moving average is $37.37. First Bancorp has a 52-week low of $33.24 and a 52-week high of $41.34. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 2.89 and a beta of 1.10. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.36.
First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.07). The firm had revenue of $69.28 million for the quarter, compared to analyst estimates of $68.73 million. First Bancorp had a return on equity of 11.32% and a net margin of 29.58%. As a group, sell-side analysts predict that First Bancorp will post 3.05 earnings per share for the current fiscal year.
Several research firms have recently weighed in on FBNC. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $42.00 price objective on shares of First Bancorp in a research report on Tuesday, January 28th. ValuEngine upgraded First Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 16th. DA Davidson assumed coverage on First Bancorp in a research note on Thursday. They set a “buy” rating for the company. Finally, Zacks Investment Research upgraded First Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. First Bancorp presently has a consensus rating of “Buy” and a consensus target price of $43.67.
In related news, Director Thomas F. Phillips sold 763 shares of First Bancorp stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $40.50, for a total transaction of $30,901.50. Following the transaction, the director now owns 82,102 shares in the company, valued at approximately $3,325,131. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.37% of the company’s stock.
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 primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificates of deposit and individual retirement accounts.
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