Versant Capital Management Inc Has $26,000 Holdings in First Bancorp (NASDAQ:FBNC)

Versant Capital Management Inc raised its position in First Bancorp (NASDAQ:FBNC) by 82.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 587 shares of the financial services provider’s stock after purchasing an additional 265 shares during the quarter. Versant Capital Management Inc’s holdings in First Bancorp were worth $26,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp bought a new position in shares of First Bancorp during the third quarter worth about $205,000. CreativeOne Wealth LLC bought a new position in shares of First Bancorp during the 3rd quarter worth approximately $211,000. Aptus Capital Advisors LLC acquired a new stake in shares of First Bancorp in the third quarter valued at approximately $212,000. Olympiad Research LP bought a new stake in shares of First Bancorp in the third quarter worth $217,000. Finally, Everence Capital Management Inc. acquired a new position in First Bancorp during the third quarter worth $240,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

First Bancorp Trading Down 1.3 %

Shares of First Bancorp stock opened at $42.63 on Wednesday. First Bancorp has a 12-month low of $29.53 and a 12-month high of $50.34. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $45.66 and its 200-day moving average is $41.86. The stock has a market cap of $1.76 billion, a P/E ratio of 17.19 and a beta of 1.04.

First Bancorp (NASDAQ:FBNC) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. The firm had revenue of $144.99 million for the quarter, compared to analyst estimates of $97.00 million. First Bancorp had a net margin of 17.98% and a return on equity of 8.00%. Equities research analysts predict that First Bancorp will post 2.72 earnings per share for the current fiscal year.

First Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, January 25th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Tuesday, December 31st. First Bancorp’s payout ratio is currently 35.48%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com lowered shares of First Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods lifted their target price on First Bancorp from $49.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

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.