CCM Investment Advisers LLC decreased its position in First Bancorp (NASDAQ:FBNC) by 0.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,206 shares of the financial services provider’s stock after selling 100 shares during the period. CCM Investment Advisers LLC’s holdings in First Bancorp were worth $725,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Highbridge Capital Management LLC purchased a new position in First Bancorp during the fourth quarter worth approximately $300,000. Mendon Capital Advisors Corp boosted its position in First Bancorp by 279.9% in the first quarter. Mendon Capital Advisors Corp now owns 605,015 shares of the financial services provider’s stock worth $17,721,000 after buying an additional 445,765 shares during the last quarter. Dalton Greiner Hartman Maher & Co. boosted its position in First Bancorp by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 73,448 shares of the financial services provider’s stock worth $2,151,000 after buying an additional 273 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in First Bancorp by 9.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,165,101 shares of the financial services provider’s stock worth $34,126,000 after buying an additional 102,427 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in First Bancorp by 12.0% in the first quarter. Bank of New York Mellon Corp now owns 157,128 shares of the financial services provider’s stock worth $4,603,000 after buying an additional 16,795 shares during the last quarter. 59.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of First Bancorp (NASDAQ FBNC) opened at 30.02 on Friday. The company has a 50-day moving average of $31.19 and a 200 day moving average of $29.97. The firm has a market capitalization of $740.83 million, a PE ratio of 20.92 and a beta of 1.18. First Bancorp has a 12-month low of $18.47 and a 12-month high of $32.99.

First Bancorp (NASDAQ:FBNC) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The firm had revenue of $51.79 million during the quarter, compared to analysts’ expectations of $49.49 million. First Bancorp had a return on equity of 7.77% and a net margin of 17.52%. On average, analysts predict that First Bancorp will post $1.86 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Friday, June 30th were given a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.32 annualized dividend and a yield of 1.07%. First Bancorp’s dividend payout ratio (DPR) is currently 22.54%.

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A number of research analysts have recently commented on FBNC shares. Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Monday, May 1st. Brean Capital set a $33.00 target price on shares of First Bancorp and gave the stock a “buy” rating in a research report on Wednesday, July 26th. ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $34.00 target price on shares of First Bancorp in a research report on Monday, June 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $32.50.

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

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