Virginia Retirement Systems ET AL Has $571,000 Holdings in First Bancorp (FBNC)
Virginia Retirement Systems ET AL grew its position in First Bancorp (NASDAQ:FBNC) by 71.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,600 shares of the financial services provider’s stock after purchasing an additional 6,900 shares during the period. Virginia Retirement Systems ET AL owned about 0.07% of First Bancorp worth $571,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Macquarie Group Ltd. raised its holdings in First Bancorp by 30.4% in the third quarter. Macquarie Group Ltd. now owns 619,044 shares of the financial services provider’s stock worth $21,301,000 after purchasing an additional 144,201 shares during the period. SG Americas Securities LLC acquired a new stake in First Bancorp in the third quarter worth $107,000. Ironsides Asset Advisors LLC raised its holdings in First Bancorp by 100.0% in the third quarter. Ironsides Asset Advisors LLC now owns 74,972 shares of the financial services provider’s stock worth $2,586,000 after purchasing an additional 37,486 shares during the period. Jennison Associates LLC acquired a new stake in First Bancorp in the third quarter worth $3,124,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in First Bancorp by 19.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 22,247 shares of the financial services provider’s stock worth $766,000 after purchasing an additional 3,588 shares during the period. Institutional investors own 56.53% of the company’s stock.
Shares of First Bancorp (NASDAQ FBNC) opened at $37.48 on Monday. First Bancorp has a twelve month low of $25.90 and a twelve month high of $41.76. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.78. The company has a market cap of $1,111.06, a price-to-earnings ratio of 20.94, a P/E/G ratio of 1.48 and a beta of 1.09.
A number of brokerages recently commented on FBNC. Piper Jaffray Companies restated an “overweight” rating and set a $37.00 price objective on shares of First Bancorp in a report on Thursday, October 5th. Stephens began coverage on shares of First Bancorp in a report on Monday, December 4th. They set an “equal weight” rating on the stock. Brean Capital restated a “buy” rating on shares of First Bancorp in a report on Tuesday, October 31st. Finally, Zacks Investment Research upgraded shares of First Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Thursday, October 5th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $36.25.
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First Bancorp Company 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.
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