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Federated Hermes Inc. raised its holdings in shares of First Bancorp (NASDAQ:FBNC – Free Report) by 163.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 25,510 shares of the financial services provider’s stock after acquiring an additional 15,819 shares during the quarter. Federated Hermes Inc.’s holdings in First Bancorp were worth $1,122,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Franklin Resources Inc. increased its holdings in First Bancorp by 23.5% in the 4th quarter. Franklin Resources Inc. now owns 2,202,960 shares of the financial services provider’s stock worth $96,864,000 after buying an additional 418,752 shares in the last quarter. Greenwood Capital Associates LLC grew its stake in shares of First Bancorp by 979.3% in the fourth quarter. Greenwood Capital Associates LLC now owns 247,336 shares of the financial services provider’s stock worth $10,875,000 after acquiring an additional 224,419 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of First Bancorp by 220.6% during the third quarter. JPMorgan Chase & Co. now owns 104,609 shares of the financial services provider’s stock valued at $4,351,000 after purchasing an additional 71,977 shares during the last quarter. Raymond James Financial Inc. bought a new position in First Bancorp during the fourth quarter valued at approximately $2,434,000. Finally, Barclays PLC boosted its holdings in First Bancorp by 142.3% in the third quarter. Barclays PLC now owns 79,906 shares of the financial services provider’s stock worth $3,324,000 after purchasing an additional 46,930 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on FBNC. Stephens initiated coverage on shares of First Bancorp in a research note on Wednesday, March 26th. They set an “overweight” rating and a $48.00 target price for the company. Janney Montgomery Scott downgraded First Bancorp from a “buy” rating to a “neutral” rating in a report on Friday, February 7th.
View Our Latest Research Report on FBNC
First Bancorp Trading Up 1.2 %
NASDAQ:FBNC opened at $36.44 on Tuesday. First Bancorp has a one year low of $29.53 and a one year high of $50.34. The business has a fifty day moving average price of $40.45 and a 200-day moving average price of $42.99. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 19.80 and a beta of 0.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81.
First Bancorp (NASDAQ:FBNC – Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. First Bancorp had a return on equity of 8.04% and a net margin of 14.19%. Sell-side analysts forecast that First Bancorp will post 3.27 EPS for the current year.
First Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.41%. The ex-dividend date is Monday, March 31st. First Bancorp’s dividend payout ratio is currently 47.83%.
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. The company accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts.
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