LPL Financial LLC Acquires 17,230 Shares of First Bancorp (NASDAQ:FBNC)

LPL Financial LLC lifted its holdings in First Bancorp (NASDAQ:FBNC) by 56.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,807 shares of the financial services provider’s stock after buying an additional 17,230 shares during the period. LPL Financial LLC owned about 0.12% of First Bancorp worth $2,102,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. raised its holdings in 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 valued at $77,649,000 after buying an additional 297,144 shares during the period. Charles Schwab Investment Management Inc. increased its position in First Bancorp by 2.7% during 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 during the last quarter. Geode Capital Management LLC raised its stake in shares of 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 period. JPMorgan Chase & Co. lifted its holdings in shares of First Bancorp by 220.6% in the 3rd 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, Jane Street Group LLC boosted its stake in shares of First Bancorp by 85.3% during the 3rd quarter. Jane Street Group LLC now owns 69,408 shares of the financial services provider’s stock worth $2,887,000 after purchasing an additional 31,953 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

First Bancorp Price Performance

Shares of FBNC stock opened at $36.44 on Tuesday. First Bancorp has a twelve month low of $29.53 and a twelve month high of $50.34. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $40.45 and a two-hundred day simple moving average of $42.99. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 19.80 and a beta of 0.89.

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

First Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Monday, March 31st. First Bancorp’s dividend payout ratio (DPR) is 47.83%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Janney Montgomery Scott lowered First Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday, February 7th. Stephens started coverage on shares of First Bancorp in a research note on Wednesday, March 26th. They issued an “overweight” rating and a $48.00 price target on the stock.

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.