Hardin Capital Partners LLC Sells 3,615 Shares of First Bancorp (NASDAQ:FBNC)

Hardin Capital Partners LLC cut its holdings in First Bancorp (NASDAQ:FBNC) by 36.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,327 shares of the financial services provider’s stock after selling 3,615 shares during the period. Hardin Capital Partners LLC’s holdings in First Bancorp were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FBNC. Versant Capital Management Inc increased its holdings 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 worth $26,000 after purchasing an additional 265 shares in the last quarter. GAMMA Investing LLC lifted 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 valued at $61,000 after acquiring an additional 253 shares during the period. KBC Group NV boosted its stake in First Bancorp by 76.0% during the fourth quarter. KBC Group NV now owns 2,592 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 1,119 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in First Bancorp by 157.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 3,551 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 2,171 shares during the period. Finally, Stifel Financial Corp bought a new stake in First Bancorp in the third quarter valued at $205,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Keefe, Bruyette & Woods raised their target price on First Bancorp from $49.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Janney Montgomery Scott cut First Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday, February 7th.

First Bancorp Stock Down 0.9 %

Shares of NASDAQ FBNC opened at $41.14 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50-day moving average price of $42.34 and a 200-day moving average price of $43.46. The stock has a market capitalization of $1.70 billion, a P/E ratio of 22.36 and a beta of 1.04. First Bancorp has a 1 year low of $29.53 and a 1 year 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 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. First Bancorp had a return on equity of 8.04% and a net margin of 14.19%. On average, equities research analysts forecast that First Bancorp will post 3.27 EPS for the current fiscal year.

First Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.14%. The ex-dividend date is Monday, March 31st. First Bancorp’s dividend payout ratio (DPR) is presently 47.83%.

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.