First Bancorp (NASDAQ:FBNC) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its position in First Bancorp (NASDAQ:FBNC - Free Report) by 33.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,703 shares of the financial services provider's stock after purchasing an additional 6,709 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.06% of First Bancorp worth $1,174,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of First Bancorp by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,293,843 shares of the financial services provider's stock worth $100,862,000 after purchasing an additional 77,074 shares in the last quarter. Franklin Resources Inc. grew its holdings in First Bancorp by 23.5% during the 4th quarter. Franklin Resources Inc. now owns 2,202,960 shares of the financial services provider's stock valued at $96,864,000 after buying an additional 418,752 shares during the last quarter. Alliancebernstein L.P. grew its holdings in First Bancorp by 1.1% during the 4th quarter. Alliancebernstein L.P. now owns 828,369 shares of the financial services provider's stock valued at $36,423,000 after buying an additional 9,140 shares during the last quarter. William Blair Investment Management LLC increased its position in First Bancorp by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 797,316 shares of the financial services provider's stock worth $35,058,000 after buying an additional 18,749 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of First Bancorp by 372.1% in the fourth quarter. Ameriprise Financial Inc. now owns 742,637 shares of the financial services provider's stock worth $32,654,000 after acquiring an additional 585,338 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

First Bancorp Stock Down 0.6%

Shares of FBNC stock traded down $0.25 during trading hours on Thursday, hitting $41.45. 181,469 shares of the company were exchanged, compared to its average volume of 185,433. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 22.53 and a beta of 0.86. First Bancorp has a one year low of $29.53 and a one year high of $50.34. The business's 50-day simple moving average is $40.19 and its two-hundred day simple moving average is $42.25. 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 (NASDAQ:FBNC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. The company had revenue of $105.79 million during the quarter, compared to analyst estimates of $105.81 million. First Bancorp had a return on equity of 8.04% and a net margin of 14.19%. Sell-side analysts predict that First Bancorp will post 3.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FBNC shares. Piper Sandler assumed coverage on shares of First Bancorp in a research note on Tuesday, May 13th. They set a "neutral" rating and a $48.00 price target on the stock. Keefe, Bruyette & Woods reduced their price objective on First Bancorp from $51.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Stephens increased their price target on First Bancorp from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of First Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price 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.