Universal Beteiligungs und Servicegesellschaft mbH Purchases 15,284 Shares of First Bancorp $FBNC

Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of First Bancorp (NASDAQ:FBNC) by 40.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,522 shares of the financial services provider’s stock after acquiring an additional 15,284 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.13% of First Bancorp worth $2,831,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its stake in shares of First Bancorp by 13.0% in the second quarter. Ameriprise Financial Inc. now owns 884,572 shares of the financial services provider’s stock worth $39,001,000 after purchasing an additional 101,529 shares during the period. Jennison Associates LLC lifted its holdings in shares of First Bancorp by 32.1% during the second quarter. Jennison Associates LLC now owns 587,061 shares of the financial services provider’s stock worth $25,884,000 after buying an additional 142,765 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of First Bancorp in the second quarter valued at approximately $17,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of First Bancorp by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 258,671 shares of the financial services provider’s stock valued at $10,383,000 after acquiring an additional 15,570 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in shares of First Bancorp by 7.7% in the second quarter. Public Sector Pension Investment Board now owns 141,199 shares of the financial services provider’s stock worth $6,225,000 after acquiring an additional 10,078 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FBNC shares. Wall Street Zen downgraded shares of First Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Raymond James Financial upgraded shares of First Bancorp from a “market perform” rating to a “strong-buy” rating and set a $62.00 target price for the company in a research note on Wednesday, January 7th. Zacks Research lowered First Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Bancorp in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Insider Transactions at First Bancorp

In other First Bancorp news, insider Mary Clara Capel sold 2,500 shares of First Bancorp stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $57.26, for a total transaction of $143,150.00. Following the completion of the transaction, the insider directly owned 28,042 shares of the company’s stock, valued at approximately $1,605,684.92. This trade represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.65% of the stock is owned by corporate insiders.

First Bancorp Stock Performance

NASDAQ FBNC opened at $58.06 on Friday. First Bancorp has a twelve month low of $34.50 and a twelve month high of $62.31. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.06. The stock has a market cap of $2.41 billion, a P/E ratio of 21.66 and a beta of 0.89. The company’s 50-day simple moving average is $53.47 and its 200 day simple moving average is $51.93.

First Bancorp (NASDAQ:FBNC) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. First Bancorp had a return on equity of 10.57% and a net margin of 19.24%.The company had revenue of $83.90 million for the quarter, compared to the consensus estimate of $123.43 million. As a group, research analysts forecast that First Bancorp will post 3.27 earnings per share for the current fiscal year.

First Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Tuesday, March 31st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.7%. This is a positive change from First Bancorp’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, March 31st. First Bancorp’s dividend payout ratio (DPR) is currently 34.33%.

First Bancorp Profile

First Bancorp operates as the bank holding company for First Bank, offering a broad range of commercial and consumer banking services. Its core offerings include business lending, treasury and cash management, residential and commercial mortgage financing, and consumer deposit products. Through its subsidiary, First Bank provides online and branch-based banking solutions, including checking and savings accounts, certificate of deposits, and digital banking tools designed to meet the needs of individuals, small- to mid-sized businesses, and professional institutions.

The company maintains a network of full-service banking centers and loan production offices across North Carolina and South Carolina, with a focus on markets in the Piedmont, Sandhills and coastal regions.