11,072 Shares in First Bancorp (NASDAQ:FBNC) Acquired by one8zero8 LLC

one8zero8 LLC bought a new stake in shares of First Bancorp (NASDAQ:FBNC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,072 shares of the financial services provider’s stock, valued at approximately $487,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in First Bancorp by 22.3% during the fourth quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider’s stock worth $61,000 after buying an additional 253 shares during the last quarter. 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. Captrust Financial Advisors lifted its stake in shares of First Bancorp by 0.7% in the 3rd quarter. Captrust Financial Advisors now owns 65,459 shares of the financial services provider’s stock valued at $2,722,000 after purchasing an additional 478 shares during the period. Rhumbline Advisers boosted its position in shares of First Bancorp by 0.5% during the 4th quarter. Rhumbline Advisers now owns 124,541 shares of the financial services provider’s stock valued at $5,476,000 after purchasing an additional 621 shares in the last quarter. Finally, Swiss National Bank grew 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 worth $3,566,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FBNC shares. Keefe, Bruyette & Woods boosted their price target 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 lowered shares of First Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday, February 7th.

First Bancorp Stock Up 2.0 %

FBNC stock opened at $39.87 on Monday. The stock’s 50 day simple moving average is $42.56 and its 200 day simple moving average is $43.51. The company has a market cap of $1.65 billion, a P/E ratio of 21.67 and a beta of 1.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. First Bancorp has a fifty-two week low of $29.53 and a fifty-two week high of $50.34.

First Bancorp (NASDAQ:FBNC) last issued its 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%. On average, research analysts expect that First Bancorp will post 3.27 earnings per share for the current fiscal year.

First Bancorp 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.