Hsbc Holdings PLC Boosts Stock Position in First Bancorp (NASDAQ:FBNC)

Hsbc Holdings PLC increased its holdings in First Bancorp (NASDAQ:FBNC - Free Report) by 294.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,958 shares of the financial services provider's stock after purchasing an additional 14,896 shares during the quarter. Hsbc Holdings PLC's holdings in First Bancorp were worth $878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc grew its position in shares of First Bancorp by 82.3% in the 4th quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider's stock worth $26,000 after buying an additional 265 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in First Bancorp by 807.9% in the fourth 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 in the last quarter. GAMMA Investing LLC increased its position in First Bancorp by 22.3% during the 4th quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider's stock valued at $61,000 after purchasing an additional 253 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 worth $114,000 after purchasing an additional 1,119 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its position in shares of First Bancorp by 157.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 3,551 shares of the financial services provider's stock worth $157,000 after purchasing an additional 2,171 shares during the period. Hedge funds and other institutional investors own 68.36% of the company's stock.

First Bancorp Price Performance

Shares of NASDAQ FBNC opened at $42.36 on Monday. The company has a 50 day simple moving average of $39.32 and a two-hundred day simple moving average of $42.70. First Bancorp has a fifty-two week low of $29.53 and a fifty-two week high of $50.34. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 23.02 and a beta of 0.85. 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 posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates 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%. Analysts expect that First Bancorp will post 3.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FBNC. Stephens boosted their price target on shares of First Bancorp from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Keefe, Bruyette & Woods decreased their target price on First Bancorp from $51.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. StockNews.com upgraded First Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Janney Montgomery Scott downgraded First Bancorp from a "buy" rating to a "neutral" rating in a report on Friday, February 7th.

First Bancorp Company 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.

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