Prudential Financial Inc. Has $1.57 Million Stake in First Bancorp (FBNC)

Prudential Financial Inc. trimmed its holdings in shares of First Bancorp (NASDAQ:FBNC) by 7.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 45,717 shares of the financial services provider’s stock after selling 3,910 shares during the period. Prudential Financial Inc. owned approximately 0.19% of First Bancorp worth $1,573,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. B. Riley Financial Inc. bought a new position in First Bancorp during the 2nd quarter valued at about $625,000. Victory Capital Management Inc. lifted its holdings in First Bancorp by 11.8% during the 2nd quarter. Victory Capital Management Inc. now owns 51,557 shares of the financial services provider’s stock valued at $1,612,000 after purchasing an additional 5,440 shares during the last quarter. Northern Trust Corp lifted its holdings in First Bancorp by 12.1% during the 2nd quarter. Northern Trust Corp now owns 291,653 shares of the financial services provider’s stock valued at $9,116,000 after purchasing an additional 31,475 shares during the last quarter. JCSD Capital LLC bought a new position in First Bancorp during the 2nd quarter valued at about $6,174,000. Finally, Alliancebernstein L.P. lifted its holdings in First Bancorp by 62.1% during the 2nd quarter. Alliancebernstein L.P. now owns 30,810 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 11,800 shares during the last quarter. 56.53% of the stock is owned by institutional investors.

Shares of First Bancorp (FBNC) opened at $37.73 on Thursday. 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 firm has a market cap of $1,134.77, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.51 and a beta of 1.09. First Bancorp has a 1 year low of $25.35 and a 1 year high of $39.11.

FBNC has been the subject of several analyst reports. Brean Capital reissued a “buy” rating on shares of First Bancorp in a report on Tuesday. Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Thursday, October 5th. Stephens initiated coverage on shares of First Bancorp in a report on Monday. They set an “equal weight” rating for the company. Finally, 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. First Bancorp has a consensus rating of “Buy” and an average target price of $36.25.

ILLEGAL ACTIVITY NOTICE: This report was published by Community Financial News and is the property of of Community Financial News. If you are accessing this report on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The original version of this report can be read at https://www.com-unik.info/2017/12/07/prudential-financial-inc-has-1-57-million-stake-in-first-bancorp-fbnc.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.

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