First Bancorp (NASDAQ:FBNC) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG increased its holdings in shares of First Bancorp (NASDAQ:FBNC - Free Report) by 52.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,579 shares of the financial services provider's stock after purchasing an additional 12,202 shares during the period. Deutsche Bank AG owned approximately 0.09% of First Bancorp worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FBNC. Sterling Capital Management LLC lifted its holdings in shares of First Bancorp by 807.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,262 shares of the financial services provider's stock valued at $55,000 after buying an additional 1,123 shares during the period. KBC Group NV raised its position in First Bancorp by 76.0% during the fourth quarter. KBC Group NV now owns 2,592 shares of the financial services provider's stock valued at $114,000 after acquiring an additional 1,119 shares in the last quarter. Two Sigma Securities LLC acquired a new position in First Bancorp in the fourth quarter valued at approximately $204,000. Dynamic Technology Lab Private Ltd purchased a new stake in First Bancorp in the 4th quarter worth approximately $236,000. Finally, Bank of Montreal Can boosted its position in First Bancorp by 7.8% in 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 in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FBNC has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of First Bancorp from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Keefe, Bruyette & Woods dropped their target price on First Bancorp from $51.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Piper Sandler assumed coverage on First Bancorp in a research note on Tuesday, May 13th. They issued a "neutral" rating and a $48.00 price target for the company. Stephens increased their price target on First Bancorp from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Finally, Janney Montgomery Scott cut First Bancorp from a "buy" rating to a "neutral" rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $49.33.

First Bancorp Price Performance

Shares of First Bancorp stock traded up $0.15 during mid-day trading on Thursday, reaching $41.68. 151,218 shares of the stock traded hands, compared to its average volume of 184,460. The business has a 50-day moving average of $39.90 and a 200 day moving average of $42.55. First Bancorp has a fifty-two week low of $29.53 and a fifty-two week high of $50.34. The stock has a market capitalization of $1.73 billion, a PE ratio of 22.65 and a beta of 0.85. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06.

First Bancorp (NASDAQ:FBNC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.78 by $0.06. The firm had revenue of $105.79 million during the quarter, compared to the consensus estimate of $105.81 million. First Bancorp had a return on equity of 8.04% and a net margin of 14.19%. On average, analysts predict that First Bancorp will post 3.27 EPS for the current 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.