First Trust Advisors LP Sells 31,364 Shares of First Bancorp (NASDAQ:FBNC)

First Trust Advisors LP trimmed its stake in First Bancorp (NASDAQ:FBNC - Free Report) by 32.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,756 shares of the financial services provider's stock after selling 31,364 shares during the quarter. First Trust Advisors LP owned 0.16% of First Bancorp worth $2,935,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of FBNC. CANADA LIFE ASSURANCE Co grew its position in First Bancorp by 3.8% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 39,746 shares of the financial services provider's stock valued at $1,741,000 after purchasing an additional 1,440 shares during the last quarter. Barclays PLC lifted its stake in shares of First Bancorp by 3.4% in the fourth quarter. Barclays PLC now owns 82,595 shares of the financial services provider's stock worth $3,631,000 after buying an additional 2,689 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in First Bancorp by 15.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 486,772 shares of the financial services provider's stock valued at $21,403,000 after purchasing an additional 63,311 shares during the last quarter. Sterling Capital Management LLC increased 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 worth $55,000 after purchasing an additional 1,123 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of First Bancorp in the fourth quarter worth $2,434,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. StockNews.com raised First Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Janney Montgomery Scott cut shares of First Bancorp from a "buy" rating to a "neutral" rating in a report on Friday, February 7th. Stephens boosted their target price 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. Finally, Keefe, Bruyette & Woods lowered their price target on First Bancorp from $51.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th.

First Bancorp Stock Performance

Shares of NASDAQ FBNC traded down $0.08 during midday trading on Wednesday, hitting $41.37. 154,826 shares of the company's stock traded hands, compared to its average volume of 183,173. The firm has a fifty day moving average of $39.35 and a 200 day moving average of $42.68. First Bancorp has a 1 year low of $29.53 and a 1 year high of $50.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 22.48 and a beta of 0.85.

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, topping the consensus estimate of $0.78 by $0.06. The firm had revenue of $105.79 million for 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 forecast that First Bancorp will post 3.27 earnings per share 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.