BNP Paribas Financial Markets Has $287,000 Holdings in First Bancorp (NASDAQ:FBNC)

BNP Paribas Financial Markets reduced its stake in First Bancorp (NASDAQ:FBNC - Free Report) by 49.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,525 shares of the financial services provider's stock after selling 6,431 shares during the quarter. BNP Paribas Financial Markets' holdings in First Bancorp were worth $287,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of FBNC. Sterling Capital Management LLC raised its holdings in 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 acquiring an additional 1,123 shares during the period. KBC Group NV raised its holdings in First Bancorp by 76.0% in the 4th 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 during the period. Two Sigma Securities LLC bought a new position in First Bancorp in the 4th quarter valued at about $204,000. Dynamic Technology Lab Private Ltd bought a new position in First Bancorp in the 4th quarter valued at about $236,000. Finally, Bank of Montreal Can increased its holdings in shares of First Bancorp by 7.8% during the fourth 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 period. 68.36% of the stock is owned by institutional investors.

First Bancorp Price Performance

NASDAQ:FBNC traded down $0.15 during mid-day trading on Friday, reaching $41.53. The stock had a trading volume of 195,863 shares, compared to its average volume of 184,503. The stock has a 50-day simple moving average of $39.91 and a two-hundred day simple moving average of $42.46. The stock has a market capitalization of $1.72 billion, a PE ratio of 22.57 and a beta of 0.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81. First Bancorp has a 12 month low of $29.53 and a 12 month high of $50.34.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on FBNC. Stephens raised their target price on shares of First Bancorp from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Piper Sandler began coverage on shares of First Bancorp in a report on Tuesday, May 13th. They set a "neutral" rating and a $48.00 target price on the stock. Janney Montgomery Scott cut shares of First Bancorp from a "buy" rating to a "neutral" rating in a report on Friday, February 7th. Keefe, Bruyette & Woods lowered their target price on shares of First Bancorp from $51.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Wall Street Zen raised shares of First Bancorp from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $49.33.

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.