Dimensional Fund Advisors LP Buys 59,041 Shares of First Bancorp (FBNC)

Dimensional Fund Advisors LP increased its stake in shares of First Bancorp (NASDAQ:FBNC) by 4.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,294,316 shares of the financial services provider’s stock after acquiring an additional 59,041 shares during the period. Dimensional Fund Advisors LP’s holdings in First Bancorp were worth $44,537,000 at the end of the most recent reporting period.

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

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

Several equities analysts recently commented on FBNC shares. Piper Jaffray Companies reissued an “overweight” rating and set a $37.00 price target on shares of First Bancorp in a research report on Thursday, October 5th. Zacks Investment Research raised First Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Thursday, October 5th. Brean Capital boosted their price target on First Bancorp from $39.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Stephens started coverage on First Bancorp in a research report on Monday, December 4th. They set an “equal weight” rating on the stock. Finally, BidaskClub lowered First Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $39.50.

First Bancorp (NASDAQ:FBNC) opened at $35.68 on Tuesday. First Bancorp has a 52-week low of $26.47 and a 52-week high of $41.76. The stock has a market capitalization of $1,074.00, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.22 and a beta of 1.10. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.05 and a quick ratio of 1.05.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Sunday, December 31st will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, December 28th. First Bancorp’s payout ratio is 18.60%.

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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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