First Bancorp (FBNC) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP decreased its holdings in First Bancorp (NASDAQ:FBNC) by 43.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,307 shares of the financial services provider’s stock after selling 15,714 shares during the quarter. Two Sigma Advisers LP owned 0.07% of First Bancorp worth $663,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. grew its position in First Bancorp by 3.0% in the fourth quarter. BlackRock Inc. now owns 2,175,436 shares of the financial services provider’s stock worth $71,049,000 after buying an additional 62,939 shares during the last quarter. Dimensional Fund Advisors LP grew its position in First Bancorp by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,513,497 shares of the financial services provider’s stock worth $49,431,000 after buying an additional 25,247 shares during the last quarter. Vanguard Group Inc. grew its position in First Bancorp by 1.2% in the third quarter. Vanguard Group Inc. now owns 1,380,010 shares of the financial services provider’s stock worth $55,904,000 after buying an additional 16,619 shares during the last quarter. Vanguard Group Inc grew its position in First Bancorp by 1.2% in the third quarter. Vanguard Group Inc now owns 1,380,010 shares of the financial services provider’s stock worth $55,904,000 after buying an additional 16,619 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in First Bancorp in the fourth quarter worth approximately $34,515,000. Hedge funds and other institutional investors own 66.49% of the company’s stock.

First Bancorp stock opened at $36.68 on Thursday. First Bancorp has a 52 week low of $30.50 and a 52 week high of $43.14. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $1.07 billion, a P/E ratio of 12.19, a PEG ratio of 2.45 and a beta of 1.24.

First Bancorp (NASDAQ:FBNC) last posted its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. First Bancorp had a net margin of 30.47% and a return on equity of 12.16%. The firm had revenue of $68.25 million during the quarter, compared to analyst estimates of $68.41 million. Equities analysts forecast that First Bancorp will post 3 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Sunday, March 31st will be paid a $0.12 dividend. This is a positive change from First Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, March 28th. This represents a $0.48 dividend on an annualized basis and a yield of 1.31%. First Bancorp’s dividend payout ratio (DPR) is currently 15.95%.

Several research firms have issued reports on FBNC. BidaskClub upgraded shares of First Bancorp from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 13th. Zacks Investment Research upgraded shares of First Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Stephens restated a “hold” rating and issued a $34.00 price target on shares of First Bancorp in a research report on Wednesday, December 19th. Finally, Brean Capital restated a “buy” rating on shares of First Bancorp in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. First Bancorp presently has an average rating of “Hold” and a consensus price target of $41.25.

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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 primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificates of deposit and individual retirement accounts.

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Institutional Ownership by Quarter for First Bancorp (NASDAQ:FBNC)

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