Mirae Asset Global Investments Co. Ltd. Increases Holdings in First Bancorp (NASDAQ:FBNC)

Mirae Asset Global Investments Co. Ltd. grew its holdings in First Bancorp (NASDAQ:FBNC) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,476 shares of the financial services provider’s stock after purchasing an additional 1,438 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in First Bancorp were worth $684,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Fifth Third Bancorp increased its holdings in shares of First Bancorp by 3,504.0% in the 3rd quarter. Fifth Third Bancorp now owns 3,640 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 3,539 shares in the last quarter. FinTrust Capital Advisors LLC bought a new stake in shares of First Bancorp in the 3rd quarter worth $184,000. Resources Management Corp CT ADV increased its holdings in shares of First Bancorp by 57.1% in the 3rd quarter. Resources Management Corp CT ADV now owns 7,700 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 2,799 shares in the last quarter. Wagner Wealth Management LLC bought a new stake in shares of First Bancorp in the 4th quarter worth $240,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of First Bancorp by 33.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,665 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 2,157 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

First Bancorp Stock Performance

Shares of FBNC opened at $34.50 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.83 and a quick ratio of 0.83. First Bancorp has a one year low of $26.00 and a one year high of $38.51. The firm has a market capitalization of $1.42 billion, a P/E ratio of 13.64 and a beta of 1.00. The business has a fifty day moving average of $34.14 and a 200 day moving average of $33.39.

First Bancorp (NASDAQ:FBNC) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.66 by $0.06. First Bancorp had a return on equity of 7.97% and a net margin of 19.06%. The company had revenue of $97.03 million during the quarter, compared to analyst estimates of $99.63 million. As a group, sell-side analysts anticipate that First Bancorp will post 2.7 EPS for the current year.

First Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Sunday, March 31st will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, March 27th. First Bancorp’s payout ratio is currently 34.78%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised First Bancorp from a “sell” rating to a “hold” rating in a report on Monday, April 1st.

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.