First Bancorp (FBNC) Holdings Increased by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. grew its holdings in shares of First Bancorp (NASDAQ:FBNC) by 24.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,453 shares of the financial services provider’s stock after acquiring an additional 19,232 shares during the period. Schwab Charles Investment Management Inc. owned 0.40% of First Bancorp worth $3,078,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. IFP Advisors Inc grew its holdings in First Bancorp by 250.9% during the 2nd quarter. IFP Advisors Inc now owns 3,513 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 2,512 shares during the period. American International Group Inc. grew its holdings in First Bancorp by 7.0% during the 1st quarter. American International Group Inc. now owns 12,110 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 791 shares during the period. Alliancebernstein L.P. grew its holdings in First Bancorp by 5.0% during the 1st quarter. Alliancebernstein L.P. now owns 19,010 shares of the financial services provider’s stock worth $557,000 after acquiring an additional 900 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in First Bancorp during the 2nd quarter worth about $731,000. Finally, Bank of America Corp DE grew its holdings in First Bancorp by 107.5% during the 1st quarter. Bank of America Corp DE now owns 37,652 shares of the financial services provider’s stock worth $1,103,000 after acquiring an additional 19,504 shares during the period. Hedge funds and other institutional investors own 66.03% of the company’s stock.
A number of analysts have weighed in on FBNC shares. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $34.00 price target on shares of First Bancorp in a report on Monday, June 26th. Zacks Investment Research upgraded First Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Thursday, October 5th. Brean Capital reiterated a “buy” rating on shares of First Bancorp in a report on Wednesday, August 2nd. ValuEngine upgraded First Bancorp from a “hold” rating to a “buy” rating in a report on Friday, July 28th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $37.00 price target on shares of First Bancorp in a report on Thursday, October 5th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $35.75.
TRADEMARK VIOLATION WARNING: “First Bancorp (FBNC) Holdings Increased by Schwab Charles Investment Management Inc.” was first published by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this news story can be viewed at https://www.watchlistnews.com/first-bancorp-fbnc-holdings-increased-by-schwab-charles-investment-management-inc/1642423.html.
Shares of First Bancorp (FBNC) opened at 35.64 on Friday. The firm has a market capitalization of $879.52 million, a P/E ratio of 24.84 and a beta of 1.13. The firm’s 50-day moving average price is $33.33 and its 200-day moving average price is $30.97. First Bancorp has a one year low of $19.18 and a one year high of $35.90.
First Bancorp (NASDAQ:FBNC) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The firm had revenue of $51.79 million during the quarter, compared to the consensus estimate of $49.49 million. First Bancorp had a net margin of 17.52% and a return on equity of 7.77%. On average, equities analysts forecast that First Bancorp will post $1.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, September 28th. First Bancorp’s dividend payout ratio (DPR) is 22.54%.
About First Bancorp
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.
Receive News & Ratings for First Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bancorp and related companies with Analyst Ratings Network's FREE daily email newsletter.