State Street Corp Has $14.44 Million Holdings in First Bancorp (FBNC)
State Street Corp raised its position in First Bancorp (NASDAQ:FBNC) by 27.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 461,813 shares of the financial services provider’s stock after buying an additional 100,632 shares during the quarter. State Street Corp owned about 1.87% of First Bancorp worth $14,436,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in FBNC. Vanguard Group Inc. increased its holdings in 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 buying an additional 198,866 shares during the period. JCSD Capital LLC bought a new stake in shares of First Bancorp during the 2nd quarter valued at approximately $6,174,000. Investment Counselors of Maryland LLC grew its holdings in shares of First Bancorp by 139.8% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 302,585 shares of the financial services provider’s stock valued at $9,459,000 after purchasing an additional 176,386 shares during the last quarter. Smith Salley & Associates bought a new stake in shares of First Bancorp during the 2nd quarter valued at approximately $3,528,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of First Bancorp by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,165,101 shares of the financial services provider’s stock valued at $34,126,000 after purchasing an additional 102,427 shares during the last quarter. 54.62% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on FBNC shares. Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Thursday, July 27th. Brean Capital set a $33.00 price target on shares of First Bancorp and gave the company a “buy” rating in a report on Wednesday, July 26th. ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a report on Friday, July 28th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $37.00 price target on shares of First Bancorp in a report on Thursday, October 5th. Five equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $36.25.
Shares of First Bancorp (FBNC) opened at $36.91 on Thursday. The company has a market cap of $1,101.27, a P/E ratio of 20.75, a P/E/G ratio of 1.46 and a beta of 1.08. First Bancorp has a 1 year low of $24.65 and a 1 year high of $37.50. 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 also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Friday, September 29th were given a $0.08 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.87%. First Bancorp’s dividend payout ratio (DPR) is currently 18.60%.
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.
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