KLP Kapitalforvaltning AS Takes $344,000 Position in First Bancorp (NASDAQ:FBNC)

KLP Kapitalforvaltning AS acquired a new stake in First Bancorp (NASDAQ:FBNC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,800 shares of the financial services provider’s stock, valued at approximately $344,000.

Several other large investors also recently added to or reduced their stakes in FBNC. American Century Companies Inc. lifted its stake in shares of First Bancorp by 7.8% during the 4th quarter. American Century Companies Inc. now owns 152,502 shares of the financial services provider’s stock valued at $6,706,000 after buying an additional 10,978 shares in the last quarter. Intech Investment Management LLC boosted its stake in First Bancorp by 168.4% in the 4th quarter. Intech Investment Management LLC now owns 24,793 shares of the financial services provider’s stock worth $1,090,000 after purchasing an additional 15,555 shares during the period. William Blair Investment Management LLC grew its stake in First Bancorp by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 797,316 shares of the financial services provider’s stock valued at $35,058,000 after acquiring an additional 18,749 shares in the last quarter. one8zero8 LLC purchased a new stake in First Bancorp in the 4th quarter worth approximately $487,000. Finally, Swiss National Bank boosted its position in shares of First Bancorp by 0.9% during the 4th quarter. Swiss National Bank now owns 81,100 shares of the financial services provider’s stock valued at $3,566,000 after acquiring an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FBNC. Stephens assumed coverage on shares of First Bancorp in a report on Wednesday, March 26th. They issued an “overweight” rating and a $48.00 price target on the stock. Janney Montgomery Scott downgraded First Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, February 7th.

First Bancorp Stock Down 2.7 %

Shares of NASDAQ FBNC opened at $36.21 on Friday. The stock has a market capitalization of $1.50 billion, a P/E ratio of 19.68 and a beta of 0.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81. First Bancorp has a one year low of $29.53 and a one year high of $50.34. The firm’s 50 day simple moving average is $41.65 and its two-hundred day simple moving average is $43.32.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. First Bancorp had a return on equity of 8.04% and a net margin of 14.19%. As a group, analysts expect that First Bancorp will post 3.27 EPS for the current fiscal year.

First Bancorp Dividend Announcement

The firm 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. The ex-dividend date is Monday, March 31st. This represents a $0.88 dividend on an annualized basis and a yield of 2.43%. First Bancorp’s dividend payout ratio is presently 47.83%.

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.