Keybank National Association OH Sells 413 Shares of First Bancorp (NASDAQ:FBNC)

Keybank National Association OH trimmed its holdings in shares of First Bancorp (NASDAQ:FBNC) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,723 shares of the financial services provider’s stock after selling 413 shares during the quarter. Keybank National Association OH’s holdings in First Bancorp were worth $252,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in 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 valued at $77,649,000 after buying an additional 297,144 shares during the period. Systematic Financial Management LP bought a new stake in First Bancorp during the third quarter valued at approximately $562,000. Geode Capital Management LLC grew its position in First Bancorp by 1.3% during the third quarter. Geode Capital Management LLC now owns 976,680 shares of the financial services provider’s stock valued at $40,628,000 after buying an additional 12,922 shares during the period. JPMorgan Chase & Co. grew its position in First Bancorp by 220.6% during the third quarter. JPMorgan Chase & Co. now owns 104,609 shares of the financial services provider’s stock valued at $4,351,000 after buying an additional 71,977 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of First Bancorp by 85.3% in the third quarter. Jane Street Group LLC now owns 69,408 shares of the financial services provider’s stock worth $2,887,000 after purchasing an additional 31,953 shares during the period. 68.36% of the stock is currently owned by institutional investors.

First Bancorp Stock Performance

FBNC opened at $38.72 on Wednesday. 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 $42.90 and a two-hundred day simple moving average of $43.60. First Bancorp has a 1-year low of $29.53 and a 1-year high of $50.34. The firm has a market cap of $1.60 billion, a P/E ratio of 21.04 and a beta of 1.04.

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

Analysts Set New Price Targets

A number of research firms have weighed in on FBNC. Janney Montgomery Scott lowered shares of First Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods upped their price target 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 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.