Jennison Associates LLC Has $21.69 Million Position in First Bancorp (NASDAQ:FBNC)

Jennison Associates LLC increased its holdings in First Bancorp (NASDAQ:FBNC - Free Report) by 14.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 585,926 shares of the financial services provider's stock after buying an additional 73,508 shares during the quarter. Jennison Associates LLC owned about 1.43% of First Bancorp worth $21,685,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FBNC. Victory Capital Management Inc. grew its stake in shares of First Bancorp by 3.7% during the 3rd quarter. Victory Capital Management Inc. now owns 541,477 shares of the financial services provider's stock valued at $15,237,000 after purchasing an additional 19,095 shares during the period. Brown Advisory Inc. lifted its holdings in First Bancorp by 8.2% in the 3rd quarter. Brown Advisory Inc. now owns 480,224 shares of the financial services provider's stock worth $13,514,000 after purchasing an additional 36,535 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in First Bancorp by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 400,597 shares of the financial services provider's stock worth $11,273,000 after purchasing an additional 18,567 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of First Bancorp by 8.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 122,420 shares of the financial services provider's stock worth $3,445,000 after acquiring an additional 9,341 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of First Bancorp by 1.3% during the 3rd quarter. Swiss National Bank now owns 90,200 shares of the financial services provider's stock worth $2,538,000 after acquiring an additional 1,200 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

First Bancorp Trading Down 0.1 %

Shares of NASDAQ FBNC traded down $0.03 during trading hours on Friday, hitting $31.52. 179,263 shares of the company traded hands, compared to its average volume of 142,672. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 11.39 and a beta of 1.00. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.46. The company's 50 day moving average price is $34.05 and its 200 day moving average price is $33.39. First Bancorp has a 12 month low of $26.00 and a 12 month high of $38.51.

First Bancorp (NASDAQ:FBNC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.06. First Bancorp had a return on equity of 8.73% and a net margin of 20.58%. The business had revenue of $97.03 million for the quarter, compared to the consensus estimate of $99.63 million. On average, equities research analysts anticipate that First Bancorp will post 2.7 earnings per share for the current fiscal year.

First Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Sunday, March 31st were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Wednesday, March 27th. First Bancorp's dividend payout ratio (DPR) is currently 31.77%.

Analyst Ratings Changes

Separately, StockNews.com downgraded First Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday.

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.