Thrivent Financial for Lutherans Lowers Stock Holdings in First Bancorp (NASDAQ:FBNC)

Thrivent Financial for Lutherans lowered its position in First Bancorp (NASDAQ:FBNC) by 1.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 31,955 shares of the financial services provider’s stock after selling 461 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of First Bancorp worth $1,405,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. lifted its stake in First Bancorp by 20.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,784,208 shares of the financial services provider’s stock worth $77,649,000 after purchasing an additional 297,144 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of First Bancorp by 1.3% in the third quarter. Geode Capital Management LLC now owns 976,680 shares of the financial services provider’s stock worth $40,628,000 after purchasing an additional 12,922 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of First Bancorp by 2.4% in the fourth quarter. William Blair Investment Management LLC now owns 797,316 shares of the financial services provider’s stock worth $35,058,000 after buying an additional 18,749 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of First Bancorp by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,297 shares of the financial services provider’s stock worth $22,306,000 after buying an additional 13,450 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in First Bancorp by 28.2% during 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 buying an additional 93,072 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

First Bancorp Stock Down 2.3 %

NASDAQ FBNC opened at $40.33 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. First Bancorp has a 52 week low of $29.53 and a 52 week high of $50.34. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 21.92 and a beta of 1.04. The company has a fifty day moving average of $42.17 and a two-hundred day moving average of $43.45.

First Bancorp (NASDAQ:FBNC) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 EPS 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%. On average, analysts predict that First Bancorp will post 3.27 earnings per share for the current year.

First Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, March 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.18%. First Bancorp’s dividend payout ratio is 47.83%.

Analyst Ratings Changes

A number of equities analysts have commented on FBNC shares. Stephens began coverage on shares of First Bancorp in a research note on Wednesday, March 26th. They issued an “overweight” rating and a $48.00 price objective for the company. Janney Montgomery Scott lowered First Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on First Bancorp from $49.00 to $56.00 and gave the stock an “outperform” rating in a research note 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.