Chatham Capital Group Inc. Sells 1,530 Shares of First Bancorp (NASDAQ:FBNC)

Chatham Capital Group Inc. decreased its holdings in shares of First Bancorp (NASDAQ:FBNC) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,567 shares of the financial services provider’s stock after selling 1,530 shares during the period. Chatham Capital Group Inc.’s holdings in First Bancorp were worth $3,323,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FBNC. Versant Capital Management Inc raised its position in shares of First Bancorp by 82.3% in the 4th quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 265 shares in the last quarter. GAMMA Investing LLC raised its position in shares of First Bancorp by 22.3% in the 4th quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 253 shares in the last quarter. KBC Group NV raised its position in shares of First Bancorp by 76.0% in the 4th quarter. KBC Group NV now owns 2,592 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 1,119 shares in the last quarter. Salem Investment Counselors Inc. raised its position in shares of First Bancorp by 157.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 3,551 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 2,171 shares in the last quarter. Finally, Stifel Financial Corp bought a new position in shares of First Bancorp in the 3rd quarter worth approximately $205,000. Institutional investors own 68.36% of the company’s stock.

First Bancorp Stock Performance

First Bancorp stock opened at $40.41 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.67 billion, a P/E ratio of 21.96 and a beta of 1.04. The stock’s 50 day moving average is $43.19 and its 200 day moving average is $43.61. First Bancorp has a twelve month low of $29.53 and a twelve month high of $50.34.

First Bancorp (NASDAQ:FBNC) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.04. First Bancorp had a return on equity of 8.04% and a net margin of 14.19%. On average, equities research analysts predict that First Bancorp will post 3.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FBNC has been the subject of several research reports. Janney Montgomery Scott lowered First Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods increased their target price on First Bancorp from $49.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

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.