First Bancorp (NASDAQ:FBNC) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its holdings in shares of First Bancorp (NASDAQ:FBNC) by 0.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,100 shares of the financial services provider’s stock after acquiring an additional 700 shares during the period. Swiss National Bank’s holdings in First Bancorp were worth $3,566,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its holdings in First Bancorp by 20.0% during the third quarter. Franklin Resources Inc. now owns 1,784,208 shares of the financial services provider’s stock worth $77,649,000 after purchasing an additional 297,144 shares in the last quarter. Geode Capital Management LLC lifted its position in First Bancorp by 1.3% in the third quarter. Geode Capital Management LLC now owns 976,680 shares of the financial services provider’s stock valued at $40,628,000 after acquiring an additional 12,922 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in First Bancorp by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,297 shares of the financial services provider’s stock valued at $22,306,000 after acquiring an additional 13,450 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of First Bancorp by 28.2% during the third quarter. Rockefeller Capital Management L.P. now owns 423,461 shares of the financial services provider’s stock worth $17,612,000 after purchasing an additional 93,072 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position 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 worth $16,150,000 after purchasing an additional 39,362 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

First Bancorp Price Performance

Shares of NASDAQ:FBNC opened at $41.14 on Wednesday. First Bancorp has a one year low of $29.53 and a one year high of $50.34. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 22.36 and a beta of 1.04. The company has a 50-day simple moving average of $42.34 and a 200-day simple moving average of $43.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81.

First Bancorp (NASDAQ:FBNC) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.72 by $0.04. First Bancorp had a return on equity of 8.04% and a net margin of 14.19%. On average, analysts predict that First Bancorp will post 3.27 EPS for the current year.

First Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Monday, March 31st. First Bancorp’s dividend payout ratio is presently 47.83%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Janney Montgomery Scott downgraded First Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods raised their target price on shares of First Bancorp from $49.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

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.