Legal & General Group Plc Has $138,000 Position in First Bancorp (FBNC)

Legal & General Group Plc cut its stake in shares of First Bancorp (NASDAQ:FBNC) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,705 shares of the financial services provider’s stock after selling 45 shares during the period. Legal & General Group Plc’s holdings in First Bancorp were worth $138,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in FBNC. Dalton Greiner Hartman Maher & Co. raised its stake in First Bancorp by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 73,448 shares of the financial services provider’s stock valued at $2,151,000 after buying an additional 273 shares in the last quarter. First Trust Advisors LP raised its stake in First Bancorp by 0.6% in the first quarter. First Trust Advisors LP now owns 56,825 shares of the financial services provider’s stock valued at $1,664,000 after buying an additional 321 shares in the last quarter. American International Group Inc. raised its stake in First Bancorp by 7.0% in the first quarter. American International Group Inc. now owns 12,110 shares of the financial services provider’s stock valued at $355,000 after buying an additional 791 shares in the last quarter. Teachers Advisors LLC raised its stake in First Bancorp by 1.9% in the first quarter. Teachers Advisors LLC now owns 46,900 shares of the financial services provider’s stock valued at $1,374,000 after buying an additional 876 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in First Bancorp by 5.0% in the first quarter. Alliancebernstein L.P. now owns 19,010 shares of the financial services provider’s stock valued at $557,000 after buying an additional 900 shares in the last quarter. Institutional investors own 60.55% of the company’s stock.

Shares of First Bancorp (NASDAQ:FBNC) remained flat at $30.57 on Wednesday. The company had a trading volume of 6,384 shares. The stock has a market capitalization of $754.41 million, a price-to-earnings ratio of 21.30 and a beta of 1.18. First Bancorp has a 12-month low of $18.56 and a 12-month high of $32.99. The company’s 50-day moving average price is $31.21 and its 200 day moving average price is $30.00.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $51.79 million for the quarter, compared to analysts’ expectations of $49.49 million. First Bancorp had a net margin of 17.52% and a return on equity of 7.77%. Equities analysts anticipate that First Bancorp will post $1.86 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.05%. First Bancorp’s payout ratio is presently 22.54%.

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Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered First Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 3rd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $34.00 target price on shares of First Bancorp in a report on Monday, June 26th. Brean Capital started coverage on First Bancorp in a report on Friday, June 9th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, ValuEngine raised First Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $32.50.

First Bancorp Company Profile

First Bancorp is the bank holding company for First Bank (the Bank). The Company’s principal activity is the ownership and operation of First Bank. The Bank engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Bank offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.

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

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