72,921 Shares in First Bancorp (NASDAQ:FBNC) Acquired by Old North State Trust LLC

Old North State Trust LLC acquired a new position in First Bancorp (NASDAQ:FBNC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 72,921 shares of the financial services provider's stock, valued at approximately $3,206,000. First Bancorp accounts for about 2.0% of Old North State Trust LLC's portfolio, making the stock its 10th largest holding. Old North State Trust LLC owned about 0.18% of First Bancorp at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bank of Montreal Can raised its position in shares of First Bancorp by 7.8% during the 4th quarter. Bank of Montreal Can now owns 6,345 shares of the financial services provider's stock worth $279,000 after purchasing an additional 460 shares during the last quarter. Rhumbline Advisers raised 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 worth $5,476,000 after purchasing an additional 621 shares during the last quarter. Swiss National Bank raised its position in shares of First Bancorp by 0.9% during the 4th 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in First Bancorp by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,775 shares of the financial services provider's stock valued at $1,001,000 after acquiring an additional 778 shares in the last quarter. Finally, Stephens Inc. AR grew its stake in First Bancorp by 16.6% during the 4th quarter. Stephens Inc. AR now owns 7,428 shares of the financial services provider's stock valued at $327,000 after acquiring an additional 1,058 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

First Bancorp Trading Down 0.4%

Shares of First Bancorp stock traded down $0.15 during mid-day trading on Friday, hitting $41.53. The stock had a trading volume of 195,863 shares, compared to its average volume of 184,310. The firm has a 50-day moving average of $39.91 and a two-hundred day moving average of $42.52. First Bancorp has a 12-month low of $29.53 and a 12-month high of $50.34. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.72 billion, a P/E ratio of 22.57 and a beta of 0.85.

First Bancorp (NASDAQ:FBNC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06. First Bancorp had a net margin of 14.19% and a return on equity of 8.04%. The business had revenue of $105.79 million during the quarter, compared to analysts' expectations of $105.81 million. Sell-side analysts forecast that First Bancorp will post 3.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FBNC has been the subject of several research reports. Piper Sandler initiated coverage on shares of First Bancorp in a research note on Tuesday, May 13th. They set a "neutral" rating and a $48.00 price objective for the company. Stephens upped their price objective on shares of First Bancorp from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Janney Montgomery Scott cut shares of First Bancorp from a "buy" rating to a "neutral" rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods dropped their price objective on shares of First Bancorp from $51.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Wall Street Zen raised shares of First Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, First Bancorp has an average rating of "Hold" and an average target price of $49.33.

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. 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.