Parametric Portfolio Associates LLC boosted its position in First Bancorp (NASDAQ:FBNC) by 7.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,254 shares of the financial services provider’s stock after purchasing an additional 2,660 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.15% of First Bancorp worth $1,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. American International Group Inc. lifted its stake in First Bancorp by 7.0% in the first quarter. American International Group Inc. now owns 12,110 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 791 shares during the last quarter. Teachers Advisors LLC lifted its stake in First Bancorp by 1.9% in the first quarter. Teachers Advisors LLC now owns 46,900 shares of the financial services provider’s stock worth $1,374,000 after purchasing an additional 876 shares during the last quarter. Alliancebernstein L.P. lifted its stake in First Bancorp by 5.0% in the first quarter. Alliancebernstein L.P. now owns 19,010 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 900 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in First Bancorp by 2.0% in the second quarter. JPMorgan Chase & Co. now owns 53,009 shares of the financial services provider’s stock worth $1,657,000 after purchasing an additional 1,041 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in First Bancorp by 23.1% in the second quarter. Legal & General Group Plc now owns 5,790 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 1,085 shares during the last quarter. 65.97% of the stock is owned by institutional investors and hedge funds.

Shares of First Bancorp (FBNC) opened at $36.07 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.05 and a current ratio of 1.05. First Bancorp has a 12 month low of $22.19 and a 12 month high of $37.42. The firm has a market cap of $1,069.56, a P/E ratio of 20.16, a PEG ratio of 1.42 and a beta of 1.08.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Friday, September 29th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Thursday, September 28th. First Bancorp’s dividend payout ratio is presently 18.60%.

Several analysts have recently weighed in on the stock. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $37.00 price target on shares of First Bancorp in a research note on Thursday, October 5th. Brean Capital reaffirmed a “buy” rating on shares of First Bancorp in a research note on Wednesday, August 2nd. 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 research note on Thursday, October 5th. Finally, ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. Five investment analysts have rated the stock with a buy rating, First Bancorp presently has an average rating of “Buy” and an average price target of $36.25.

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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)

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