First Bancorp (FBNC) Shares Sold by First Trust Advisors LP

First Trust Advisors LP trimmed its holdings in First Bancorp (NASDAQ:FBNC) by 46.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,458 shares of the financial services provider’s stock after selling 26,833 shares during the period. First Trust Advisors LP owned about 0.13% of First Bancorp worth $1,082,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. B. Riley Financial Inc. purchased a new position in shares of First Bancorp in the second quarter valued at about $625,000. Victory Capital Management Inc. lifted its position in shares of First Bancorp by 11.8% in the second quarter. Victory Capital Management Inc. now owns 51,557 shares of the financial services provider’s stock valued at $1,612,000 after acquiring an additional 5,440 shares in the last quarter. Northern Trust Corp lifted its position in shares of First Bancorp by 12.1% in the second quarter. Northern Trust Corp now owns 291,653 shares of the financial services provider’s stock valued at $9,116,000 after acquiring an additional 31,475 shares in the last quarter. JCSD Capital LLC purchased a new position in shares of First Bancorp in the second quarter valued at about $6,174,000. Finally, Alliancebernstein L.P. lifted its position in shares of First Bancorp by 62.1% in the second quarter. Alliancebernstein L.P. now owns 30,810 shares of the financial services provider’s stock valued at $963,000 after acquiring an additional 11,800 shares in the last quarter. Institutional investors and hedge funds own 56.53% of the company’s stock.

Shares of First Bancorp (FBNC) opened at $38.28 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $1,121.43, a PE ratio of 21.13, a P/E/G ratio of 1.49 and a beta of 1.09. First Bancorp has a 52-week low of $25.17 and a 52-week high of $39.11.

Several equities analysts have recently commented on the company. Stephens assumed coverage on First Bancorp in a research report on Monday. They issued an “equal weight” rating on the stock. Brean Capital restated a “buy” rating on shares of First Bancorp in a research report on Tuesday, October 31st. Zacks Investment Research upgraded First Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Thursday, October 5th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $37.00 price objective on shares of First Bancorp in a research report on Thursday, October 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $36.25.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this news story on another website, it was copied illegally and reposted in violation of US & international trademark and copyright law. The correct version of this news story can be accessed at https://www.com-unik.info/2017/12/05/first-bancorp-fbnc-shares-sold-by-first-trust-advisors-lp.html.

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.

Want to see what other hedge funds are holding FBNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Bancorp (NASDAQ:FBNC).

Institutional Ownership by Quarter for First Bancorp (NASDAQ:FBNC)

What are top analysts saying about First Bancorp? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for First Bancorp and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit