55,366 Shares in First Bancorp (NASDAQ:FBNC) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in First Bancorp (NASDAQ:FBNC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 55,366 shares of the financial services provider's stock, valued at approximately $2,434,000. Raymond James Financial Inc. owned 0.13% of First Bancorp as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FBNC. Franklin Resources Inc. increased its stake in First Bancorp by 23.5% during the fourth quarter. Franklin Resources Inc. now owns 2,202,960 shares of the financial services provider's stock valued at $96,864,000 after acquiring an additional 418,752 shares during the period. Greenwood Capital Associates LLC increased its holdings in shares of First Bancorp by 979.3% during the fourth quarter. Greenwood Capital Associates LLC now owns 247,336 shares of the financial services provider's stock worth $10,875,000 after buying an additional 224,419 shares in the last quarter. JPMorgan Chase & Co. raised its position in First Bancorp by 220.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 104,609 shares of the financial services provider's stock valued at $4,351,000 after purchasing an additional 71,977 shares during the last quarter. Barclays PLC lifted its position in First Bancorp by 142.3% during the 3rd quarter. Barclays PLC now owns 79,906 shares of the financial services provider's stock worth $3,324,000 after buying an additional 46,930 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of First Bancorp by 12.0% during the fourth quarter. Bank of New York Mellon Corp now owns 367,298 shares of the financial services provider's stock valued at $16,150,000 after purchasing an additional 39,362 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FBNC shares. Keefe, Bruyette & Woods cut their price objective on shares of First Bancorp from $51.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. StockNews.com upgraded shares of First Bancorp from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Janney Montgomery Scott lowered shares of First Bancorp from a "buy" rating to a "neutral" rating in a report on Friday, February 7th. Finally, 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 report on Monday, April 28th.

First Bancorp Stock Down 0.0 %

NASDAQ FBNC traded down $0.00 during trading hours on Monday, reaching $42.36. 13,193 shares of the company's stock were exchanged, compared to its average volume of 182,750. 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 company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 23.07 and a beta of 0.85. The company's 50-day moving average is $39.32 and its two-hundred day moving average is $42.70. First Bancorp has a one year low of $29.53 and a one year high of $50.34.

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