First Bancorp (FBNC) Position Raised by Macquarie Group Ltd.

Macquarie Group Ltd. raised its stake in First Bancorp (NASDAQ:FBNC) by 17.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,036,529 shares of the financial services provider’s stock after purchasing an additional 152,422 shares during the period. Macquarie Group Ltd. owned 3.49% of First Bancorp worth $33,853,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of First Bancorp by 3.0% during the fourth quarter. BlackRock Inc. now owns 2,175,436 shares of the financial services provider’s stock worth $71,049,000 after purchasing an additional 62,939 shares during the period. Dimensional Fund Advisors LP lifted its holdings in First Bancorp by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,513,497 shares of the financial services provider’s stock valued at $49,431,000 after acquiring an additional 25,247 shares during the period. Vanguard Group Inc. lifted its holdings in First Bancorp by 1.2% in the third quarter. Vanguard Group Inc. now owns 1,380,010 shares of the financial services provider’s stock valued at $55,904,000 after acquiring an additional 16,619 shares during the period. Vanguard Group Inc increased its position in shares of First Bancorp by 1.2% in the third quarter. Vanguard Group Inc now owns 1,380,010 shares of the financial services provider’s stock valued at $55,904,000 after buying an additional 16,619 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of First Bancorp in the fourth quarter valued at $34,515,000. Institutional investors own 66.49% of the company’s stock.

A number of research analysts have recently weighed in on FBNC shares. BidaskClub cut First Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Sandler O’Neill upgraded First Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Zacks Investment Research cut First Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, April 15th. ValuEngine upgraded First Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, FIG Partners upgraded First Bancorp from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.25.

FBNC traded down $0.19 during midday trading on Friday, hitting $36.49. The company’s stock had a trading volume of 74,208 shares, compared to its average volume of 78,445. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 2.48 and a beta of 1.24. First Bancorp has a 52-week low of $30.50 and a 52-week high of $43.14.

First Bancorp (NASDAQ:FBNC) last posted its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. The company had revenue of $68.25 million during the quarter, compared to analysts’ expectations of $68.41 million. First Bancorp had a return on equity of 12.16% and a net margin of 30.47%. Equities research analysts anticipate that First Bancorp will post 3 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Sunday, March 31st will be paid a $0.12 dividend. This is a positive change from First Bancorp’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, March 28th. First Bancorp’s payout ratio is currently 15.95%.

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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 primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificates of deposit and individual retirement accounts.

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Institutional Ownership by Quarter for First Bancorp (NASDAQ:FBNC)

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