First Bancorp (NASDAQ:FBNC) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in First Bancorp (NASDAQ:FBNC) by 14.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,380 shares of the financial services provider’s stock after selling 1,285 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in First Bancorp were worth $273,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its holdings in shares of First Bancorp by 16.9% during the third quarter. Jennison Associates LLC now owns 512,418 shares of the financial services provider’s stock worth $14,419,000 after buying an additional 74,164 shares in the last quarter. Brown Advisory Inc. grew its stake in First Bancorp by 8.2% during the 3rd quarter. Brown Advisory Inc. now owns 480,224 shares of the financial services provider’s stock valued at $13,514,000 after acquiring an additional 36,535 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in First Bancorp in the 3rd quarter valued at about $683,000. Great Lakes Advisors LLC lifted its stake in First Bancorp by 89.3% in the 3rd quarter. Great Lakes Advisors LLC now owns 44,278 shares of the financial services provider’s stock worth $1,246,000 after purchasing an additional 20,888 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of First Bancorp during the 4th quarter worth approximately $762,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut First Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, April 25th.

First Bancorp Price Performance

First Bancorp stock opened at $31.85 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $33.62 and a 200 day moving average price of $33.60. First Bancorp has a 12-month low of $26.00 and a 12-month high of $38.51. The stock has a market cap of $1.31 billion, a P/E ratio of 11.50 and a beta of 1.02.

First Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Sunday, March 31st were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Wednesday, March 27th. First Bancorp’s payout ratio is presently 31.77%.

First Bancorp Company Profile

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. The company accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts.