Huber Capital Management LLC cut its stake in shares of First Bancorp (NASDAQ:FBNC) by 9.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 182,984 shares of the financial services provider’s stock after selling 18,752 shares during the period. Huber Capital Management LLC owned about 0.62% of First Bancorp worth $7,413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FBNC. Renaissance Technologies LLC grew its stake in shares of First Bancorp by 11.5% during the third quarter. Renaissance Technologies LLC now owns 661,914 shares of the financial services provider’s stock valued at $26,814,000 after buying an additional 68,100 shares during the last quarter. Citadel Advisors LLC lifted its holdings in First Bancorp by 25.5% during the third quarter. Citadel Advisors LLC now owns 27,554 shares of the financial services provider’s stock worth $1,116,000 after buying an additional 5,591 shares during the period. Allianz Asset Management GmbH lifted its holdings in First Bancorp by 56.0% during the third quarter. Allianz Asset Management GmbH now owns 533,827 shares of the financial services provider’s stock worth $21,625,000 after buying an additional 191,693 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in First Bancorp by 29.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,350 shares of the financial services provider’s stock worth $379,000 after buying an additional 2,125 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in First Bancorp by 5.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,488,250 shares of the financial services provider’s stock worth $60,288,000 after buying an additional 70,394 shares during the period. Institutional investors own 66.24% of the company’s stock.

A number of analysts have weighed in on the company. Zacks Investment Research lowered First Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. ValuEngine lowered First Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub lowered First Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, November 28th. Brean Capital restated a “buy” rating on shares of First Bancorp in a report on Monday, October 1st. Finally, Stephens restated a “hold” rating and set a $39.00 target price on shares of First Bancorp in a report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $42.75.

First Bancorp stock opened at $36.77 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.55. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 1.04 and a beta of 1.00. First Bancorp has a twelve month low of $33.88 and a twelve month high of $43.14.

First Bancorp (NASDAQ:FBNC) last issued its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. First Bancorp had a return on equity of 10.92% and a net margin of 27.88%. The firm had revenue of $67.22 million during the quarter, compared to analyst estimates of $67.43 million. Analysts anticipate that First Bancorp will post 3.01 earnings per share for the current fiscal year.

In other First Bancorp news, insider Suzanne S. Deferie acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was purchased at an average price of $39.80 per share, for a total transaction of $199,000.00. Following the acquisition, the insider now owns 132,545 shares in the company, valued at approximately $5,275,291. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard H. Moore acquired 1,250 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The shares were acquired at an average price of $39.79 per share, with a total value of $49,737.50. Following the acquisition, the chief executive officer now owns 139,935 shares in the company, valued at approximately $5,568,013.65. The disclosure for this purchase can be found here. Corporate insiders own 1.89% of the company’s stock.

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About First Bancorp

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 deposits and individual retirement accounts.

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

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