Continental Advisors LLC reduced its position in First Bancorp (NASDAQ:FBNC) by 43.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,615 shares of the financial services provider’s stock after selling 52,789 shares during the quarter. Continental Advisors LLC owned approximately 0.23% of First Bancorp worth $2,327,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of FBNC. Vanguard Group Inc. boosted its stake in shares of First Bancorp by 24.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,000,939 shares of the financial services provider’s stock valued at $31,290,000 after purchasing an additional 198,866 shares during the last quarter. JCSD Capital LLC bought a new position in First Bancorp during the second quarter worth $6,174,000. Macquarie Group Ltd. boosted its stake in First Bancorp by 30.4% during the third quarter. Macquarie Group Ltd. now owns 619,044 shares of the financial services provider’s stock worth $21,301,000 after acquiring an additional 144,201 shares in the last quarter. State Street Corp boosted its stake in First Bancorp by 27.9% during the second quarter. State Street Corp now owns 461,813 shares of the financial services provider’s stock worth $14,436,000 after acquiring an additional 100,632 shares in the last quarter. Finally, Banc Funds Co. LLC boosted its stake in First Bancorp by 18.5% during the second quarter. Banc Funds Co. LLC now owns 592,556 shares of the financial services provider’s stock worth $18,523,000 after acquiring an additional 92,392 shares in the last quarter. 56.53% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on FBNC. Brean Capital reissued a “buy” rating on shares of First Bancorp in a research note on Tuesday, December 5th. Stephens began coverage on shares of First Bancorp in a research note on Monday, December 4th. They set an “equal weight” rating on the stock. Piper Jaffray Companies reissued an “overweight” rating and set a $37.00 target price on shares of First Bancorp in a research note on Thursday, October 5th. Finally, Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Thursday, October 5th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $36.25.
First Bancorp (NASDAQ:FBNC) opened at $37.48 on Monday. The stock 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. First Bancorp has a 12 month low of $25.90 and a 12 month high of $41.76. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.05 and a current ratio of 1.05.
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About First Bancorp
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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