Wealth Enhancement Advisory Services LLC Acquires 6,709 Shares of First Bancorp (NASDAQ:FBNC)

Wealth Enhancement Advisory Services LLC boosted its holdings in First Bancorp (NASDAQ:FBNC - Free Report) by 33.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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.

A number of other institutional investors have also recently bought and sold shares of FBNC. Bank of Montreal Can boosted its holdings in shares of 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 buying an additional 460 shares during the last quarter. Rhumbline Advisers raised its position in First Bancorp by 0.5% in the fourth quarter. Rhumbline Advisers now owns 124,541 shares of the financial services provider's stock worth $5,476,000 after acquiring an additional 621 shares during the period. Swiss National Bank boosted its stake in First Bancorp by 0.9% in the fourth quarter. Swiss National Bank now owns 81,100 shares of the financial services provider's stock valued at $3,566,000 after acquiring an additional 700 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in First Bancorp by 3.5% in the fourth 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 during the last quarter. Finally, Stephens Inc. AR grew its position in shares of 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 during the period. Institutional investors own 68.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FBNC shares. Stephens lifted their price target 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. Wall Street Zen raised First Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Keefe, Bruyette & Woods lowered their target price 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. Finally, Piper Sandler began coverage on First Bancorp in a research note on Tuesday, May 13th. They set a "neutral" rating and a $48.00 price target for the company. Three 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, First Bancorp has a consensus rating of "Hold" and an average price target of $49.33.

First Bancorp Stock Up 1.6%

First Bancorp stock opened at $41.63 on Monday. The firm has a 50 day simple moving average of $39.96 and a 200 day simple moving average of $42.30. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. First Bancorp has a 1-year low of $29.53 and a 1-year high of $50.34. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 22.63 and a beta of 0.86.

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

About First Bancorp

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.

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