KBC Group NV Acquires 1,119 Shares of First Bancorp (NASDAQ:FBNC)

KBC Group NV lifted its holdings in shares of First Bancorp (NASDAQ:FBNC) by 76.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,592 shares of the financial services provider’s stock after purchasing an additional 1,119 shares during the period. KBC Group NV’s holdings in First Bancorp were worth $114,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Versant Capital Management Inc lifted its stake in First Bancorp by 82.3% in the fourth quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock valued at $26,000 after buying an additional 265 shares during the period. GAMMA Investing LLC grew its position in shares of First Bancorp by 22.3% during the 4th quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider’s stock worth $61,000 after buying an additional 253 shares during the period. Salem Investment Counselors Inc. increased its stake in shares of First Bancorp by 157.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 3,551 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 2,171 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of First Bancorp during the 3rd quarter valued at $205,000. Finally, CreativeOne Wealth LLC bought a new position in First Bancorp during the third quarter worth $211,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on FBNC shares. StockNews.com downgraded shares of First Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods boosted their target price on First Bancorp from $49.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Janney Montgomery Scott lowered First Bancorp from a “buy” rating to a “neutral” rating in a report on Friday.

First Bancorp Stock Performance

NASDAQ FBNC opened at $43.96 on Friday. The company has a market cap of $1.82 billion, a P/E ratio of 23.89 and a beta of 1.04. The company has a fifty day simple moving average of $44.81 and a 200 day simple moving average of $43.29. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. First Bancorp has a 12-month low of $29.53 and a 12-month high of $50.34.

First Bancorp (NASDAQ:FBNC) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. First Bancorp had a net margin of 14.19% and a return on equity of 8.04%. Sell-side analysts predict that First Bancorp will post 3.09 earnings per share for the current fiscal year.

About First Bancorp

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.