Dalton Greiner Hartman Maher & Co. Grows Stake in First Bancorp (FBNC)

Dalton Greiner Hartman Maher & Co. increased its stake in shares of First Bancorp (NASDAQ:FBNC) by 27.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,967 shares of the financial services provider’s stock after purchasing an additional 18,888 shares during the period. Dalton Greiner Hartman Maher & Co.’s holdings in First Bancorp were worth $3,141,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of First Bancorp by 2.0% during the second quarter. JPMorgan Chase & Co. now owns 53,009 shares of the financial services provider’s stock valued at $1,657,000 after purchasing an additional 1,041 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of First Bancorp by 23.1% during the second quarter. Legal & General Group Plc now owns 5,790 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 1,085 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of First Bancorp by 7.7% during the second quarter. Voya Investment Management LLC now owns 15,488 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 1,113 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of First Bancorp by 2.6% during the second quarter. First Trust Advisors LP now owns 58,291 shares of the financial services provider’s stock valued at $1,822,000 after purchasing an additional 1,466 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of First Bancorp by 7.9% during the second quarter. Parametric Portfolio Associates LLC now owns 36,254 shares of the financial services provider’s stock valued at $1,133,000 after purchasing an additional 2,660 shares during the last quarter. 56.51% of the stock is owned by hedge funds and other institutional investors.

Shares of First Bancorp (NASDAQ:FBNC) opened at $36.80 on Friday. 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 stock has a market cap of $1,090.00, a P/E ratio of 21.40, a P/E/G ratio of 1.22 and a beta of 1.10. First Bancorp has a 12-month low of $26.47 and a 12-month high of $41.76.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Sunday, December 31st will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.32 annualized dividend and a yield of 0.87%. First Bancorp’s dividend payout ratio (DPR) is 18.60%.

Several research firms have recently weighed in on FBNC. Piper Jaffray Companies reissued a “buy” rating and set a $42.00 price objective on shares of First Bancorp in a report on Tuesday. Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, January 3rd. Brean Capital reissued a “buy” rating on shares of First Bancorp in a report on Tuesday, January 2nd. ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $41.00 target price on shares of First Bancorp in a research report on Friday, December 22nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $39.50.

In other First Bancorp news, CEO Richard H. Moore bought 2,755 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was bought at an average cost of $36.00 per share, for a total transaction of $99,180.00. Following the completion of the transaction, the chief executive officer now owns 121,741 shares of the company’s stock, valued at approximately $4,382,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Suzanne S. Deferie sold 12,001 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $35.67, for a total transaction of $428,075.67. Following the sale, the insider now owns 113,408 shares of the company’s stock, valued at $4,045,263.36. The disclosure for this sale can be found here. Insiders own 2.37% of the company’s stock.

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

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