Yousif Capital Management LLC Sells 351 Shares of First Bancorp (NASDAQ:FBNC)

Yousif Capital Management LLC lessened its holdings in shares of First Bancorp (NASDAQ:FBNC) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,631 shares of the financial services provider’s stock after selling 351 shares during the quarter. Yousif Capital Management LLC’s holdings in First Bancorp were worth $687,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FBNC. Franklin Resources Inc. raised its holdings in shares of First Bancorp by 20.0% during the third quarter. Franklin Resources Inc. now owns 1,784,208 shares of the financial services provider’s stock worth $77,649,000 after acquiring an additional 297,144 shares during the period. Geode Capital Management LLC lifted its stake in First Bancorp by 1.3% in the 3rd 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 in the last quarter. Victory Capital Management Inc. boosted its position in First Bancorp by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 600,609 shares of the financial services provider’s stock worth $24,979,000 after acquiring an additional 4,656 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of First Bancorp by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 493,847 shares of the financial services provider’s stock worth $20,539,000 after acquiring an additional 14,737 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of First Bancorp by 28.2% in the third quarter. Rockefeller Capital Management L.P. now owns 423,461 shares of the financial services provider’s stock valued at $17,612,000 after purchasing an additional 93,072 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

First Bancorp Price Performance

FBNC stock opened at $43.19 on Friday. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 23.47 and a beta of 1.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50 day simple moving average of $44.36 and a 200 day simple moving average of $43.41. First Bancorp has a 1 year low of $29.53 and a 1 year high of $50.34.

First Bancorp (NASDAQ:FBNC) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.76 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%. Research analysts anticipate that First Bancorp will post 3.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FBNC shares. StockNews.com downgraded First Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods raised their target price on shares of First Bancorp from $49.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Janney Montgomery Scott lowered shares of First Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, February 7th.

About First Bancorp

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.