Federated Investors Inc. PA trimmed its position in shares of First Bancorp (NASDAQ:FBNC) by 7.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,800 shares of the financial services provider’s stock after selling 12,273 shares during the quarter. Federated Investors Inc. PA owned 0.63% of First Bancorp worth $4,839,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Pinnacle Financial Partners Inc. purchased a new position in shares of First Bancorp in the 2nd quarter valued at about $100,000. BNP Paribas Arbitrage SA boosted its stake in shares of First Bancorp by 1,207.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,268 shares of the financial services provider’s stock valued at $102,000 after buying an additional 3,018 shares during the period. IFP Advisors Inc boosted its stake in shares of First Bancorp by 250.9% in the 2nd quarter. IFP Advisors Inc now owns 3,513 shares of the financial services provider’s stock valued at $110,000 after buying an additional 2,512 shares during the period. Legal & General Group Plc raised its position in shares of First Bancorp by 23.1% during the 2nd quarter. Legal & General Group Plc now owns 5,790 shares of the financial services provider’s stock worth $180,000 after acquiring an additional 1,085 shares in the last quarter. Finally, American International Group Inc. raised its position in shares of First Bancorp by 7.0% during the 1st quarter. American International Group Inc. now owns 12,110 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 791 shares in the last quarter. Institutional investors own 66.03% of the company’s stock.
Shares of First Bancorp (FBNC) traded up 0.71% during midday trading on Friday, hitting $31.41. The stock had a trading volume of 150,064 shares. The firm has a market cap of $775.14 million, a price-to-earnings ratio of 21.89 and a beta of 1.16. The firm has a 50-day moving average price of $30.95 and a 200-day moving average price of $30.07. First Bancorp has a 1-year low of $19.18 and a 1-year high of $32.99.
First Bancorp (NASDAQ:FBNC) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The company had revenue of $51.79 million for the quarter, compared to analyst estimates of $49.49 million. First Bancorp had a return on equity of 7.77% and a net margin of 17.52%. On average, equities analysts anticipate that First Bancorp will post $1.86 EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://ledgergazette.com/2017/09/17/first-bancorp-fbnc-position-decreased-by-federated-investors-inc-pa.html.
Several research analysts have commented on the company. ValuEngine raised First Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Brean Capital restated a “buy” rating on shares of First Bancorp in a research note on Wednesday, August 2nd. Zacks Investment Research downgraded First Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 3rd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $34.00 price objective on shares of First Bancorp in a research report on Monday, June 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $32.50.
First Bancorp Company Profile
First Bancorp is the bank holding company for First Bank (the Bank). The Company’s principal activity is the ownership and operation of First Bank. The Bank engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Bank offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.
Receive News & Ratings for First Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.