Arrowstreet Capital Limited Partnership bought a new stake in First Bancorp (NASDAQ:FBNC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,300 shares of the financial services provider’s stock, valued at approximately $399,000.
Other large investors have also made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of First Bancorp in the third quarter valued at about $107,000. Acadian Asset Management LLC purchased a new position in First Bancorp during the fourth quarter worth about $125,000. Meeder Asset Management Inc. raised its holdings in First Bancorp by 516.0% during the fourth quarter. Meeder Asset Management Inc. now owns 6,074 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 5,088 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in First Bancorp during the fourth quarter worth about $320,000. Finally, Goldman Sachs Group Inc. raised its holdings in First Bancorp by 39.3% during the second quarter. Goldman Sachs Group Inc. now owns 11,748 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 3,314 shares in the last quarter. 61.57% of the stock is owned by institutional investors and hedge funds.
First Bancorp stock opened at $37.08 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. First Bancorp has a 1 year low of $27.50 and a 1 year high of $41.76. The firm has a market cap of $1,092.48, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.03 and a beta of 1.14.
First Bancorp (NASDAQ:FBNC) last issued its earnings results on Monday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.09). First Bancorp had a return on equity of 8.43% and a net margin of 20.32%. The company had revenue of $63.72 million for the quarter, compared to analyst estimates of $64.12 million. equities analysts anticipate that First Bancorp will post 2.7 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Friday, March 30th will be given a dividend of $0.10 per share. This is a positive change from First Bancorp’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Wednesday, March 28th. First Bancorp’s dividend payout ratio is presently 17.78%.
In other First Bancorp news, insider Suzanne S. Deferie sold 12,001 shares of the company’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $35.67, for a total transaction of $428,075.67. Following the transaction, the insider now directly owns 113,408 shares in the company, valued at $4,045,263.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.37% of the company’s stock.
Several research analysts recently issued reports on FBNC shares. BidaskClub cut shares of First Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, December 21st. ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research cut shares of First Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Brean Capital reissued a “buy” rating on shares of First Bancorp in a report on Tuesday, December 5th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $42.00 price target on shares of First Bancorp in a report on Tuesday, January 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $39.50.
First Bancorp Profile
First Bancorp is the bank holding company for First Bank (the Bank). The Company’s principal activity is the ownership and operation of First Bank. The Bank engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Bank offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.
Receive News & Ratings for First Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.