First Bancorp (NASDAQ:FBNC) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of First Bancorp (NASDAQ:FBNC) by 8.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 18,476 shares of the financial services provider’s stock after buying an additional 1,438 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in First Bancorp were worth $684,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Victory Capital Management Inc. grew its position in shares of First Bancorp by 3.7% during the 3rd quarter. Victory Capital Management Inc. now owns 541,477 shares of the financial services provider’s stock valued at $15,237,000 after acquiring an additional 19,095 shares during the period. Jennison Associates LLC lifted its stake in First Bancorp by 16.9% in the 3rd quarter. Jennison Associates LLC now owns 512,418 shares of the financial services provider’s stock valued at $14,419,000 after buying an additional 74,164 shares in the last quarter. Brown Advisory Inc. lifted its stake in First Bancorp by 8.2% in the 3rd quarter. Brown Advisory Inc. now owns 480,224 shares of the financial services provider’s stock valued at $13,514,000 after buying an additional 36,535 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in First Bancorp by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 400,597 shares of the financial services provider’s stock valued at $11,273,000 after buying an additional 18,567 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in First Bancorp by 8.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 122,420 shares of the financial services provider’s stock worth $3,445,000 after purchasing an additional 9,341 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of First Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 1st.

First Bancorp Trading Up 1.1 %

FBNC opened at $34.50 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.83 and a quick ratio of 0.83. The company’s 50 day simple moving average is $34.14 and its two-hundred day simple moving average is $33.39. First Bancorp has a 1-year low of $26.00 and a 1-year high of $38.51. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 13.64 and a beta of 1.00.

First Bancorp (NASDAQ:FBNC) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.66 by $0.06. The firm had revenue of $97.03 million for the quarter, compared to analyst estimates of $99.63 million. First Bancorp had a net margin of 19.06% and a return on equity of 7.97%. Analysts expect that First Bancorp will post 2.7 EPS for the current fiscal year.

First Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Sunday, March 31st will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, March 27th. First Bancorp’s payout ratio is presently 34.78%.

First Bancorp Company 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.