11,072 Shares in First Bancorp (NASDAQ:FBNC) Bought by one8zero8 LLC

one8zero8 LLC acquired a new stake in shares of First Bancorp (NASDAQ:FBNC) during the 4th quarter, HoldingsChannel reports. The firm acquired 11,072 shares of the financial services provider’s stock, valued at approximately $487,000.

A number of other hedge funds have also recently bought and sold shares of FBNC. Versant Capital Management Inc raised its holdings in shares of First Bancorp by 82.3% in the fourth quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 265 shares during the last quarter. GAMMA Investing LLC increased its stake in First Bancorp by 22.3% in the 4th quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider’s stock valued at $61,000 after buying an additional 253 shares during the last quarter. KBC Group NV lifted its position in shares of First Bancorp by 76.0% during the 4th quarter. KBC Group NV now owns 2,592 shares of the financial services provider’s stock worth $114,000 after buying an additional 1,119 shares in the last quarter. Salem Investment Counselors Inc. lifted its position in shares of First Bancorp by 157.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 3,551 shares of the financial services provider’s stock worth $157,000 after buying an additional 2,171 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of First Bancorp in the 3rd quarter worth approximately $205,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FBNC has been the topic of a number of recent analyst reports. Janney Montgomery Scott lowered First Bancorp from a “buy” rating to a “neutral” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods lifted their target price on First Bancorp from $49.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.

First Bancorp Stock Up 2.0 %

First Bancorp stock opened at $39.87 on Monday. The firm has a 50 day moving average price of $42.56 and a 200-day moving average price of $43.51. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. First Bancorp has a twelve month low of $29.53 and a twelve month high of $50.34. The company has a market capitalization of $1.65 billion, a P/E ratio of 21.67 and a beta of 1.04.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that First Bancorp will post 3.27 EPS for the current year.

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.