Versant Capital Management Inc Buys 265 Shares of First Bancorp (NASDAQ:FBNC)

Versant Capital Management Inc raised its stake in First Bancorp (NASDAQ:FBNC) by 82.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 587 shares of the financial services provider’s stock after purchasing an additional 265 shares during the period. Versant Capital Management Inc’s holdings in First Bancorp were worth $26,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Stifel Financial Corp bought a new position in First Bancorp in the 3rd quarter valued at about $205,000. CreativeOne Wealth LLC bought a new position in shares of First Bancorp during the third quarter worth approximately $211,000. Aptus Capital Advisors LLC acquired a new stake in First Bancorp during the 3rd quarter worth approximately $212,000. Olympiad Research LP bought a new stake in First Bancorp in the 3rd quarter valued at $217,000. Finally, Everence Capital Management Inc. acquired a new position in First Bancorp in the 3rd quarter valued at $240,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

First Bancorp Stock Performance

NASDAQ:FBNC opened at $42.63 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.82 and a current ratio of 0.83. First Bancorp has a fifty-two week low of $29.53 and a fifty-two week high of $50.34. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 17.19 and a beta of 1.04. The stock has a fifty day moving average price of $45.66 and a 200-day moving average price of $41.86.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.70. The firm had revenue of $144.99 million for the quarter, compared to the consensus estimate of $97.00 million. First Bancorp had a net margin of 17.98% and a return on equity of 8.00%. As a group, equities analysts anticipate that First Bancorp will post 2.72 EPS for the current fiscal year.

First Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, January 25th. Investors of record on Tuesday, December 31st will be paid a $0.22 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.88 dividend on an annualized basis and a yield of 2.06%. First Bancorp’s dividend payout ratio (DPR) is 35.48%.

Analysts Set New Price Targets

FBNC has been the subject of a number of recent research reports. StockNews.com cut shares of First Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods increased their target price on shares of First Bancorp from $49.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

First Bancorp Company Profile

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.