First Bancorp (NASDAQ:FBNC) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its holdings in shares of First Bancorp (NASDAQ:FBNC) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,279 shares of the financial services provider’s stock after selling 898 shares during the quarter. Truist Financial Corp’s holdings in First Bancorp were worth $628,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its stake in shares of First Bancorp by 20.0% during the 3rd 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. Greenwood Capital Associates LLC grew its holdings in First Bancorp by 979.3% during the 4th quarter. Greenwood Capital Associates LLC now owns 247,336 shares of the financial services provider’s stock valued at $10,875,000 after buying an additional 224,419 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in 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 buying an additional 93,072 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of First Bancorp by 220.6% in the third quarter. JPMorgan Chase & Co. now owns 104,609 shares of the financial services provider’s stock worth $4,351,000 after acquiring an additional 71,977 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of First Bancorp by 142.3% in the third quarter. Barclays PLC now owns 79,906 shares of the financial services provider’s stock valued at $3,324,000 after acquiring an additional 46,930 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

First Bancorp Trading Up 1.6 %

Shares of First Bancorp stock opened at $41.96 on Monday. First Bancorp has a fifty-two week low of $29.53 and a fifty-two week high of $50.34. The business’s fifty day moving average is $43.43 and its two-hundred day moving average is $43.63. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.73 billion, a PE ratio of 22.80 and a beta of 1.04.

First Bancorp (NASDAQ:FBNC) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, topping 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%. Analysts anticipate that First Bancorp will post 3.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FBNC. Keefe, Bruyette & Woods lifted their price objective on First Bancorp from $49.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Janney Montgomery Scott downgraded shares of First Bancorp from a “buy” rating to a “neutral” rating in a report on Friday, February 7th.

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. 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.