First Bancorp (NASDAQ:FBNC) Shares Sold by United Services Automobile Association

United Services Automobile Association decreased its holdings in shares of First Bancorp (NASDAQ:FBNC) by 22.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,947 shares of the financial services provider’s stock after selling 2,602 shares during the period. United Services Automobile Association’s holdings in First Bancorp were worth $292,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in FBNC. Wells Fargo & Company MN lifted its holdings in shares of First Bancorp by 5.8% in the 3rd quarter. Wells Fargo & Company MN now owns 96,222 shares of the financial services provider’s stock worth $3,898,000 after acquiring an additional 5,273 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of First Bancorp by 258.8% during the third quarter. SG Americas Securities LLC now owns 15,784 shares of the financial services provider’s stock worth $639,000 after buying an additional 11,385 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of First Bancorp by 290.1% in the third quarter. Prudential Financial Inc. now owns 34,475 shares of the financial services provider’s stock worth $1,396,000 after acquiring an additional 25,638 shares during the last quarter. BlackRock Inc. boosted its position in shares of First Bancorp by 9.7% in the third quarter. BlackRock Inc. now owns 2,112,497 shares of the financial services provider’s stock worth $85,579,000 after acquiring an additional 187,396 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in First Bancorp by 5.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,488,250 shares of the financial services provider’s stock valued at $60,288,000 after buying an additional 70,394 shares in the last quarter. Institutional investors own 66.48% of the company’s stock.

FBNC traded up $0.71 during midday trading on Friday, reaching $38.12. 66,842 shares of the company were exchanged, compared to its average volume of 101,340. First Bancorp has a one year low of $30.50 and a one year high of $43.14. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.53. The stock has a market cap of $1.09 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 2.49 and a beta of 1.24.

First Bancorp (NASDAQ:FBNC) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.04. The business had revenue of $68.24 million for the quarter, compared to analyst estimates of $67.41 million. First Bancorp had a return on equity of 12.22% and a net margin of 30.44%. As a group, equities analysts forecast that First Bancorp will post 3 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Sunday, March 31st were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from First Bancorp’s previous quarterly dividend of $0.10. First Bancorp’s payout ratio is 15.95%.

A number of research firms have recently commented on FBNC. ValuEngine raised shares of First Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research downgraded shares of First Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th. FIG Partners upgraded First Bancorp from a “market perform” rating to an “outperform” rating in a report on Thursday, January 24th. Brean Capital set a $42.00 price objective on First Bancorp and gave the stock a “buy” rating in a report on Friday, January 25th. Finally, BidaskClub raised First Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. First Bancorp has an average rating of “Hold” and an average target price of $41.80.

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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 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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