First Bancorp (NASDAQ:FBNC) Shares Sold by Keeley Teton Advisors LLC

Keeley Teton Advisors LLC trimmed its stake in shares of First Bancorp (NASDAQ:FBNC) by 13.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,770 shares of the financial services provider’s stock after selling 17,256 shares during the period. Keeley Teton Advisors LLC owned about 0.27% of First Bancorp worth $4,915,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Versant Capital Management Inc lifted its holdings 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 purchasing an additional 265 shares in the last quarter. Sterling Capital Management LLC grew its stake in First Bancorp by 807.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,262 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 1,123 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of First Bancorp by 22.3% in the 4th quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 253 shares during the period. KBC Group NV lifted its position in shares of First Bancorp by 76.0% in the fourth 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. Finally, Salem Investment Counselors Inc. boosted its holdings in shares of 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 purchasing an additional 2,171 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FBNC shares. Janney Montgomery Scott lowered First Bancorp from a “buy” rating to a “neutral” rating in a report on Friday, February 7th. Stephens started 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.

First Bancorp Trading Up 1.2 %

NASDAQ:FBNC opened at $36.44 on Tuesday. The company’s 50 day moving average is $40.45 and its 200-day moving average is $42.99. 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 12 month low of $29.53 and a 12 month high of $50.34. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 19.80 and a beta of 0.89.

First Bancorp (NASDAQ:FBNC) last announced 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%. Equities analysts anticipate that First Bancorp will post 3.27 EPS for the current year.

First Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 annualized dividend and a yield of 2.41%. First Bancorp’s payout ratio is 47.83%.

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.