First Bancorp (NASDAQ:FBNC) Stock Position Lifted by Intech Investment Management LLC

Intech Investment Management LLC lifted its holdings in First Bancorp (NASDAQ:FBNC) by 168.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,793 shares of the financial services provider’s stock after purchasing an additional 15,555 shares during the quarter. Intech Investment Management LLC’s holdings in First Bancorp were worth $1,090,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. William Blair Investment Management LLC grew its stake in shares of First Bancorp by 2.4% in the fourth quarter. William Blair Investment Management LLC now owns 797,316 shares of the financial services provider’s stock worth $35,058,000 after purchasing an additional 18,749 shares in the last quarter. one8zero8 LLC bought a new position in First Bancorp during the fourth quarter valued at about $487,000. Swiss National Bank boosted its stake in First Bancorp by 0.9% during the fourth quarter. Swiss National Bank now owns 81,100 shares of the financial services provider’s stock valued at $3,566,000 after buying an additional 700 shares in the last quarter. HighTower Advisors LLC boosted its stake in First Bancorp by 47.6% during the fourth quarter. HighTower Advisors LLC now owns 15,033 shares of the financial services provider’s stock valued at $661,000 after buying an additional 4,851 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in First Bancorp during the fourth quarter valued at about $2,434,000. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their target price on First Bancorp from $49.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Janney Montgomery Scott cut First Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday, February 7th.

First Bancorp Trading Up 0.4 %

Shares of FBNC opened at $40.52 on Friday. The business’s 50-day moving average price is $42.37 and its 200 day moving average price is $43.44. The stock has a market capitalization of $1.68 billion, a P/E ratio of 22.02 and a beta of 1.04. First Bancorp has a 1-year low of $29.53 and a 1-year high of $50.34. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06.

First Bancorp (NASDAQ:FBNC) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share 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%. Analysts expect that First Bancorp will post 3.27 earnings per share for the current year.

First Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be paid a $0.22 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.88 dividend on an annualized basis and a yield of 2.17%. First Bancorp’s dividend payout ratio is currently 47.83%.

About First Bancorp

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.