MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stock Holdings in First Bancorp (NASDAQ:FBNC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in First Bancorp (NASDAQ:FBNC) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,775 shares of the financial services provider’s stock after purchasing an additional 778 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of First Bancorp worth $1,001,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Sterling Capital Management LLC grew its stake in shares of First Bancorp by 807.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,262 shares of the financial services provider’s stock worth $55,000 after buying an additional 1,123 shares in the last quarter. KBC Group NV lifted its holdings in shares of First Bancorp by 76.0% in the 4th quarter. KBC Group NV now owns 2,592 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 1,119 shares during the last quarter. Two Sigma Securities LLC purchased a new position in First Bancorp in the fourth quarter worth about $204,000. Dynamic Technology Lab Private Ltd bought a new stake in First Bancorp during the fourth quarter worth approximately $236,000. Finally, Bank of Montreal Can raised its position in First Bancorp by 7.8% during the fourth quarter. Bank of Montreal Can now owns 6,345 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 460 shares during the period. Institutional investors own 68.36% of the company’s stock.

First Bancorp Stock Down 0.5%

NASDAQ:FBNC opened at $41.00 on Monday. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 22.28 and a beta of 0.85. 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 $39.84 and a 200-day simple moving average of $42.63.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The company had revenue of $105.79 million during the quarter, compared to analyst estimates of $105.81 million. First Bancorp had a net margin of 14.19% and a return on equity of 8.04%. Analysts anticipate that First Bancorp will post 3.27 EPS for the current year.

Analysts Set New Price Targets

FBNC has been the topic of several analyst reports. Keefe, Bruyette & Woods cut their target price on First Bancorp from $51.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Wall Street Zen raised shares of First Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Janney Montgomery Scott lowered shares of First Bancorp from a “buy” rating to a “neutral” rating in a report on Friday, February 7th. Piper Sandler initiated coverage on shares of First Bancorp in a report on Tuesday, May 13th. They set a “neutral” rating and a $48.00 price target on the stock. Finally, Stephens raised their price objective on shares of First Bancorp from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, First Bancorp has an average rating of “Hold” and a consensus price target of $49.33.

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.