Susquehanna International Group LLP lowered its position in shares of First Bancorp (NASDAQ:FBNC) by 45.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,973 shares of the financial services provider’s stock after selling 21,049 shares during the quarter. Susquehanna International Group LLP owned 0.10% of First Bancorp worth $781,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Pinnacle Financial Partners Inc. purchased a new position in First Bancorp during the second quarter valued at approximately $100,000. BNP Paribas Arbitrage SA lifted its holdings in First Bancorp by 1,207.2% during the second quarter. BNP Paribas Arbitrage SA now owns 3,268 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 3,018 shares in the last quarter. IFP Advisors Inc lifted its holdings in First Bancorp by 250.9% during the second quarter. IFP Advisors Inc now owns 3,513 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 2,512 shares in the last quarter. Captrust Financial Advisors purchased a new position in First Bancorp during the second quarter valued at approximately $146,000. Finally, Legal & General Group Plc lifted its holdings in First Bancorp by 23.1% during the second quarter. Legal & General Group Plc now owns 5,790 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 1,085 shares in the last quarter. 66.03% of the stock is currently owned by institutional investors and hedge funds.
First Bancorp (NASDAQ FBNC) traded down 0.08% during trading on Friday, hitting $35.39. 11,080 shares of the stock traded hands. The stock has a 50 day moving average price of $32.66 and a 200-day moving average price of $30.74. The stock has a market cap of $873.35 million, a P/E ratio of 24.66 and a beta of 1.13. First Bancorp has a 52-week low of $19.18 and a 52-week high of $35.90.
First Bancorp (NASDAQ:FBNC) last announced its earnings results on Tuesday, July 25th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. First Bancorp had a return on equity of 7.77% and a net margin of 17.52%. The firm had revenue of $51.79 million for the quarter, compared to analyst estimates of $49.49 million. On average, analysts anticipate that First Bancorp will post $1.86 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, September 29th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.90%. First Bancorp’s dividend payout ratio (DPR) is 22.54%.
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Several equities analysts have weighed in on FBNC shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $34.00 price target on shares of First Bancorp in a report on Monday, June 26th. Zacks Investment Research downgraded shares of First Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, July 3rd. Brean Capital set a $33.00 target price on shares of First Bancorp and gave the stock a “buy” rating in a report on Wednesday, July 26th. ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a report on Friday, July 28th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $37.00 target price on shares of First Bancorp in a report on Thursday, October 5th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $35.75.
About First Bancorp
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.
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