First Bancorp (FBNC) Shares Bought by Martin & Co. Inc. TN
Martin & Co. Inc. TN grew its holdings in shares of First Bancorp (NASDAQ:FBNC) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,770 shares of the financial services provider’s stock after purchasing an additional 95 shares during the period. Martin & Co. Inc. TN owned approximately 0.16% of First Bancorp worth $1,212,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of FBNC. Pinnacle Financial Partners Inc. acquired a new position in shares of First Bancorp during the second quarter valued at $100,000. BNP Paribas Arbitrage SA increased its holdings in shares of First Bancorp by 1,207.2% during the second quarter. BNP Paribas Arbitrage SA now owns 3,268 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 3,018 shares during the period. IFP Advisors Inc increased its holdings in shares of First Bancorp by 250.9% during the second quarter. IFP Advisors Inc now owns 3,513 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 2,512 shares during the period. Captrust Financial Advisors acquired a new position in shares of First Bancorp during the second quarter valued at $146,000. Finally, Legal & General Group Plc increased its holdings in shares of First Bancorp by 23.1% during the second quarter. Legal & General Group Plc now owns 5,790 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 1,085 shares during the period. 66.03% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on the company. Zacks Investment Research raised First Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Thursday, October 5th. Piper Jaffray Companies reissued an “overweight” rating and set a $37.00 price target on shares of First Bancorp in a report on Thursday, October 5th. Brean Capital set a $33.00 price target on First Bancorp and gave the company a “buy” rating in a report on Wednesday, July 26th. ValuEngine raised First Bancorp from a “hold” rating to a “buy” rating in a report on Friday, July 28th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $34.00 price target on shares of First Bancorp in a report on Monday, June 26th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $35.75.
Shares of First Bancorp (NASDAQ:FBNC) remained flat at $35.48 on Wednesday. 59,370 shares of the stock were exchanged. The stock has a 50 day moving average of $32.39 and a 200-day moving average of $30.67. The firm has a market cap of $875.58 million, a price-to-earnings ratio of 24.81 and a beta of 1.13. First Bancorp has a 52-week low of $19.18 and a 52-week high of $35.90.
First Bancorp (NASDAQ:FBNC) last released its earnings results on Tuesday, July 25th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $51.79 million during the quarter, compared to the consensus estimate of $49.49 million. First Bancorp had a return on equity of 7.77% and a net margin of 17.52%. Analysts anticipate that First Bancorp will post $1.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Friday, September 29th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.90%. First Bancorp’s payout ratio is currently 22.54%.
First Bancorp 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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