Rhumbline Advisers Has $5.48 Million Stake in First Bancorp (NASDAQ:FBNC)

Rhumbline Advisers lifted its position in shares of First Bancorp (NASDAQ:FBNC) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,541 shares of the financial services provider’s stock after purchasing an additional 621 shares during the period. Rhumbline Advisers owned 0.30% of First Bancorp worth $5,476,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FBNC shares. Janney Montgomery Scott downgraded First Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods upped their price objective on shares of First Bancorp from $49.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

First Bancorp Stock Up 0.7 %

NASDAQ:FBNC opened at $41.28 on Friday. First Bancorp has a one year low of $29.53 and a one year high of $50.34. 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 market cap of $1.71 billion, a PE ratio of 22.43 and a beta of 1.04. The firm’s 50 day simple moving average is $43.49 and its 200 day simple moving average is $43.54.

First Bancorp (NASDAQ:FBNC) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. First Bancorp had a return on equity of 8.04% and a net margin of 14.19%. On average, research analysts anticipate that First Bancorp will post 3.27 earnings per share for the current year.

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.