WINTON GROUP Ltd Invests $359,000 in First Bancorp (NASDAQ:FBNC)

WINTON GROUP Ltd purchased a new position in shares of First Bancorp (NASDAQ:FBNCGet Rating) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,283 shares of the financial services provider’s stock, valued at approximately $359,000.

A number of other large investors have also recently made changes to their positions in FBNC. BlackRock Inc. increased its stake in shares of First Bancorp by 1.3% during the first quarter. BlackRock Inc. now owns 5,250,996 shares of the financial services provider’s stock worth $219,336,000 after buying an additional 67,457 shares during the period. Franklin Street Advisors Inc. NC increased its stake in shares of First Bancorp by 552.0% during the second quarter. Franklin Street Advisors Inc. NC now owns 72,082 shares of the financial services provider’s stock worth $2,516,000 after buying an additional 61,027 shares during the period. Brown Advisory Inc. increased its stake in shares of First Bancorp by 12.1% during the first quarter. Brown Advisory Inc. now owns 516,102 shares of the financial services provider’s stock worth $21,595,000 after buying an additional 55,544 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of First Bancorp during the first quarter worth approximately $1,447,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of First Bancorp by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,413,246 shares of the financial services provider’s stock worth $59,033,000 after buying an additional 30,092 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

First Bancorp Stock Performance

Shares of First Bancorp stock opened at $46.95 on Friday. The firm has a market capitalization of $1.68 billion, a P/E ratio of 14.06 and a beta of 1.11. First Bancorp has a 52 week low of $32.90 and a 52 week high of $49.52. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average is $41.11 and its two-hundred day moving average is $38.04.

First Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 25th. Shareholders of record on Friday, September 30th were paid a $0.22 dividend. The ex-dividend date was Thursday, September 29th. This represents a $0.88 annualized dividend and a yield of 1.87%. First Bancorp’s dividend payout ratio is currently 26.35%.

Insider Activity

In other news, Director Carlie C. Mclamb, Jr. acquired 928 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was acquired at an average cost of $46.40 per share, with a total value of $43,059.20. Following the completion of the acquisition, the director now owns 12,213 shares of the company’s stock, valued at $566,683.20. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Carlie C. Mclamb, Jr. acquired 928 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was acquired at an average cost of $46.40 per share, with a total value of $43,059.20. Following the completion of the acquisition, the director now owns 12,213 shares of the company’s stock, valued at $566,683.20. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary Clara Capel sold 705 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $37.70, for a total value of $26,578.50. Following the completion of the sale, the director now directly owns 12,077 shares of the company’s stock, valued at $455,302.90. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of First Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 20th. Piper Sandler upgraded shares of First Bancorp from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $49.00 to $47.00 in a research note on Thursday, August 18th. DA Davidson lowered shares of First Bancorp from a “buy” rating to a “neutral” rating and dropped their price target for the company from $43.00 to $42.00 in a research note on Monday, August 1st. Finally, Raymond James increased their price target on shares of First Bancorp from $41.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, October 31st.

First Bancorp Profile

(Get Rating)

First Bancorp operates as the bank holding company for First Bank that provides banking products and services for individuals and small to medium-sized businesses primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts.

See Also

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

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