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

Hsbc Holdings PLC lifted its stake in First Bancorp (NASDAQ:FBNC - Free Report) by 294.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,958 shares of the financial services provider's stock after acquiring an additional 14,896 shares during the quarter. Hsbc Holdings PLC's holdings in First Bancorp were worth $878,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FBNC. Versant Capital Management Inc raised its position in First Bancorp by 82.3% in the fourth quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 265 shares during the period. Sterling Capital Management LLC raised 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 valued at $55,000 after buying an additional 1,123 shares during the period. GAMMA Investing LLC lifted its stake 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 worth $61,000 after acquiring an additional 253 shares in the last quarter. KBC Group NV boosted its holdings in First Bancorp by 76.0% during 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. Finally, Salem Investment Counselors Inc. grew its position in 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 valued at $157,000 after acquiring an additional 2,171 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

First Bancorp Stock Down 0.9 %

First Bancorp stock traded down $0.40 during trading on Friday, reaching $41.76. The stock had a trading volume of 88,798 shares, compared to its average volume of 182,853. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. First Bancorp has a 52-week low of $29.53 and a 52-week high of $50.34. The stock has a market cap of $1.73 billion, a PE ratio of 22.70 and a beta of 0.85. The business has a 50 day moving average price of $39.38 and a 200 day moving average price of $42.67.

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 analysts' consensus estimates of $0.78 by $0.06. First Bancorp had a net margin of 14.19% and a return on equity of 8.04%. The firm had revenue of $105.79 million during the quarter, compared to the consensus estimate of $105.81 million. On average, analysts predict that First Bancorp will post 3.27 EPS 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.