First Bancorp (NASDAQ:FBNC) Shares Sold by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC cut its holdings in shares of First Bancorp (NASDAQ:FBNCFree Report) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,090 shares of the financial services provider’s stock after selling 350 shares during the period. Greenwood Capital Associates LLC’s holdings in First Bancorp were worth $1,151,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FBNC. TFO Wealth Partners LLC grew its position in First Bancorp by 17,233.3% in the 4th quarter. TFO Wealth Partners LLC now owns 1,560 shares of the financial services provider’s stock valued at $58,000 after buying an additional 1,551 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of First Bancorp during the fourth quarter valued at approximately $68,000. Everence Capital Management Inc. bought a new stake in First Bancorp during the fourth quarter worth approximately $213,000. Wagner Wealth Management LLC acquired a new stake in First Bancorp in the fourth quarter worth approximately $240,000. Finally, Handelsbanken Fonder AB bought a new position in First Bancorp during the 4th quarter valued at $253,000. 68.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded First Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th.

Check Out Our Latest Analysis on FBNC

First Bancorp Price Performance

Shares of NASDAQ:FBNC traded down $0.53 during trading hours on Friday, hitting $30.02. 92,932 shares of the company’s stock traded hands, compared to its average volume of 120,946. The company’s fifty day simple moving average is $31.74 and its two-hundred day simple moving average is $33.89. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 10.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.81 and a current ratio of 0.81. First Bancorp has a 52 week low of $26.00 and a 52 week high of $38.51.

First Bancorp (NASDAQ:FBNCGet Free Report) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). The business had revenue of $92.17 million for the quarter, compared to the consensus estimate of $96.12 million. First Bancorp had a return on equity of 8.62% and a net margin of 20.58%. As a group, equities analysts anticipate that First Bancorp will post 2.53 EPS for the current fiscal year.

First Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Sunday, June 30th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, June 28th. First Bancorp’s payout ratio is 31.77%.

About First Bancorp

(Free Report)

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.

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Institutional Ownership by Quarter for First Bancorp (NASDAQ:FBNC)

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