Livingston Group Asset Management CO operating as Southport Capital Management Lowers Holdings in First Bancorp (FBNC)

Livingston Group Asset Management CO operating as Southport Capital Management lessened its stake in First Bancorp (NASDAQ:FBNC) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,057 shares of the financial services provider’s stock after selling 357 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management owned about 0.12% of First Bancorp worth $1,219,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quantamental Technologies LLC acquired a new stake in First Bancorp during the 4th quarter worth approximately $33,000. Private Capital Group LLC raised its holdings in First Bancorp by 174.0% during the 4th quarter. Private Capital Group LLC now owns 1,277 shares of the financial services provider’s stock worth $42,000 after buying an additional 811 shares during the period. Semmax Financial Advisors Inc. acquired a new stake in shares of First Bancorp in the fourth quarter valued at approximately $149,000. Legal & General Group Plc raised its holdings in shares of First Bancorp by 23.9% in the fourth quarter. Legal & General Group Plc now owns 5,705 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 1,102 shares during the last quarter. Finally, Wakefield Asset Management LLLP acquired a new stake in shares of First Bancorp in the third quarter valued at approximately $240,000. 66.49% of the stock is currently owned by institutional investors.

A number of brokerages recently weighed in on FBNC. Zacks Investment Research downgraded shares of First Bancorp from a “buy” rating to a “hold” rating in a report on Monday. BidaskClub raised shares of First Bancorp from a “strong sell” rating to a “sell” rating in a research report on Saturday. Sandler O’Neill raised shares of First Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Brean Capital reissued a “buy” rating on shares of First Bancorp in a research note on Monday, March 18th. Finally, FIG Partners upgraded First Bancorp from a “market perform” rating to an “outperform” rating in a report on Thursday, January 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $41.25.

FBNC traded up $0.04 during trading hours on Wednesday, hitting $36.65. The stock had a trading volume of 556 shares, compared to its average volume of 86,367. First Bancorp has a 1 year low of $30.50 and a 1 year high of $43.14. The firm has a market cap of $1.07 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.01 and a current ratio of 1.01.

First Bancorp (NASDAQ:FBNC) last issued its earnings results on Wednesday, January 23rd. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. The business had revenue of $68.25 million during the quarter, compared to the consensus estimate of $68.41 million. First Bancorp had a return on equity of 12.16% and a net margin of 30.47%. As a group, research analysts predict that First Bancorp will post 3 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Sunday, March 31st will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, March 28th. This is an increase from First Bancorp’s previous quarterly dividend of $0.10. First Bancorp’s dividend payout ratio (DPR) is 15.95%.

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First Bancorp 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 primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificates of deposit and individual retirement accounts.

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

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