Tower Research Capital LLC TRC Has $26,000 Holdings in First Bancorp (NASDAQ:FBNC)

Tower Research Capital LLC TRC decreased its position in First Bancorp (NASDAQ:FBNC - Free Report) by 95.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 580 shares of the financial services provider's stock after selling 11,660 shares during the quarter. Tower Research Capital LLC TRC's holdings in First Bancorp were worth $26,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. MetLife Investment Management LLC raised its holdings in First Bancorp by 6.3% in the 4th quarter. MetLife Investment Management LLC now owns 24,194 shares of the financial services provider's stock worth $1,064,000 after acquiring an additional 1,425 shares during the period. Dimensional Fund Advisors LP boosted its stake in First Bancorp by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,293,843 shares of the financial services provider's stock valued at $100,862,000 after purchasing an additional 77,074 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in First Bancorp by 3.8% in 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 buying an additional 1,440 shares during the last quarter. Barclays PLC grew its holdings in First Bancorp by 3.4% in the 4th quarter. Barclays PLC now owns 82,595 shares of the financial services provider's stock valued at $3,631,000 after buying an additional 2,689 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in First Bancorp by 15.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 486,772 shares of the financial services provider's stock worth $21,403,000 after buying an additional 63,311 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FBNC. StockNews.com raised First Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Piper Sandler began coverage on shares of First Bancorp in a research note on Tuesday, May 13th. They set a "neutral" rating and a $48.00 target price for the company. Keefe, Bruyette & Woods decreased their price target on shares of First Bancorp from $51.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Stephens boosted their price objective on shares of First Bancorp from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Finally, Janney Montgomery Scott lowered shares of First Bancorp from a "buy" rating to a "neutral" rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $49.33.

First Bancorp Stock Performance

Shares of FBNC traded down $0.09 on Monday, reaching $42.24. 153,545 shares of the stock traded hands, compared to its average volume of 183,209. The stock's 50-day moving average price is $39.71 and its 200-day moving average price is $42.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 22.96 and a beta of 0.85. First Bancorp has a 12 month low of $29.53 and a 12 month high of $50.34.

First Bancorp (NASDAQ:FBNC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 14.19% and a return on equity of 8.04%. Equities analysts forecast that First Bancorp will post 3.27 EPS for the current fiscal 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.