Founders Financial Alliance LLC Sells 4,745 Shares of First Bancorp (NASDAQ:FBNC)

Founders Financial Alliance LLC cut its position in shares of First Bancorp (NASDAQ:FBNC) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 125,633 shares of the financial services provider’s stock after selling 4,745 shares during the quarter. First Bancorp accounts for 1.5% of Founders Financial Alliance LLC’s investment portfolio, making the stock its 10th biggest holding. Founders Financial Alliance LLC owned approximately 0.30% of First Bancorp worth $5,524,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FBNC. Versant Capital Management Inc increased its position in shares of First Bancorp by 82.3% in the fourth quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock valued at $26,000 after buying an additional 265 shares in the last quarter. GAMMA Investing LLC increased its holdings in First Bancorp by 22.3% during the 4th quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 253 shares in the last quarter. KBC Group NV raised its position in First Bancorp by 76.0% during the fourth quarter. KBC Group NV now owns 2,592 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 1,119 shares during the last quarter. Salem Investment Counselors Inc. raised its position in First Bancorp by 157.3% during the fourth quarter. Salem Investment Counselors Inc. now owns 3,551 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 2,171 shares during the last quarter. Finally, Stifel Financial Corp purchased a new stake in shares of First Bancorp in the third quarter valued at about $205,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

First Bancorp Price Performance

NASDAQ:FBNC opened at $38.78 on Tuesday. First Bancorp has a 12-month low of $29.53 and a 12-month high of $50.34. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 21.08 and a beta of 1.04. The company’s 50-day moving average is $43.01 and its two-hundred day moving average is $43.61. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating 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 expect that First Bancorp will post 3.27 EPS 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.