TFO Wealth Partners LLC Raises Position in First Bancorp (NASDAQ:FBNC)

TFO Wealth Partners LLC lifted its stake in shares of First Bancorp (NASDAQ:FBNCFree Report) by 17,233.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,560 shares of the financial services provider’s stock after buying an additional 1,551 shares during the period. TFO Wealth Partners LLC’s holdings in First Bancorp were worth $58,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FBNC. Franklin Resources Inc. boosted its holdings in First Bancorp by 91.7% during the 4th quarter. Franklin Resources Inc. now owns 1,245,024 shares of the financial services provider’s stock worth $46,078,000 after acquiring an additional 595,695 shares during the last quarter. Hsbc Holdings PLC purchased a new position in First Bancorp during the fourth quarter worth about $11,720,000. Dimensional Fund Advisors LP grew its position in First Bancorp by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,848,591 shares of the financial services provider’s stock worth $68,418,000 after purchasing an additional 112,422 shares in the last quarter. Jennison Associates LLC increased its stake in First Bancorp by 14.3% in the 4th quarter. Jennison Associates LLC now owns 585,926 shares of the financial services provider’s stock valued at $21,685,000 after buying an additional 73,508 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its position in shares of First Bancorp by 18.1% during the 4th quarter. Panagora Asset Management Inc. now owns 179,725 shares of the financial services provider’s stock worth $6,652,000 after buying an additional 27,488 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

First Bancorp Price Performance

FBNC opened at $31.34 on Friday. First Bancorp has a fifty-two week low of $26.00 and a fifty-two week high of $38.51. The firm has a 50-day moving average of $32.35 and a 200 day moving average of $33.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $1.29 billion, a P/E ratio of 11.31 and a beta of 1.02.

First Bancorp (NASDAQ:FBNCGet Free Report) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). The company had revenue of $92.17 million for the quarter, compared to the consensus estimate of $96.12 million. First Bancorp had a net margin of 20.58% and a return on equity of 8.62%. On average, research analysts expect that First Bancorp will post 2.61 EPS for the current year.

First Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Sunday, March 31st were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Wednesday, March 27th. First Bancorp’s dividend payout ratio is currently 31.77%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered First Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, April 25th.

Check Out Our Latest Stock Report on First Bancorp

First Bancorp Profile

(Free Report)

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.

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

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