Penn Capital Management Co. Inc. grew its position in shares of First Bancorp (NASDAQ:FBNC) by 25.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,286 shares of the financial services provider’s stock after buying an additional 8,456 shares during the period. Penn Capital Management Co. Inc. owned about 0.14% of First Bancorp worth $1,493,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of First Bancorp by 16.4% in the 4th quarter. BlackRock Inc. now owns 1,876,045 shares of the financial services provider’s stock worth $66,244,000 after purchasing an additional 264,581 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First Bancorp by 4.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,294,316 shares of the financial services provider’s stock worth $44,537,000 after purchasing an additional 59,041 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 worth $31,290,000 after purchasing an additional 198,866 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of First Bancorp by 30.4% in the 3rd quarter. Macquarie Group Ltd. now owns 619,044 shares of the financial services provider’s stock worth $21,301,000 after purchasing an additional 144,201 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of First Bancorp by 27.9% in the 2nd quarter. State Street Corp now owns 461,813 shares of the financial services provider’s stock worth $14,436,000 after purchasing an additional 100,632 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

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In related news, insider Suzanne S. Deferie sold 12,001 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $35.67, for a total value of $428,075.67. Following the sale, the insider now directly owns 113,408 shares in the company, valued at approximately $4,045,263.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard H. Moore purchased 2,755 shares of the stock in a transaction dated Wednesday, December 20th. The shares were purchased at an average price of $36.00 per share, for a total transaction of $99,180.00. Following the completion of the transaction, the chief executive officer now owns 121,741 shares in the company, valued at approximately $4,382,676. The disclosure for this purchase can be found here. 2.37% of the stock is owned by company insiders.

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $41.00 price target on shares of First Bancorp in a report on Friday, December 22nd. Brean Capital reissued a “buy” rating on shares of First Bancorp in a report on Tuesday, January 2nd. Stephens assumed coverage on First Bancorp in a report on Monday, December 4th. They issued an “equal weight” rating on the stock. Zacks Investment Research downgraded First Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $42.00 price target on shares of First Bancorp in a report on Tuesday, January 9th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $39.50.

Shares of First Bancorp (NASDAQ:FBNC) opened at $36.19 on Wednesday. First Bancorp has a 1 year low of $27.50 and a 1 year high of $41.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $1,055.41, a P/E ratio of 20.11, a P/E/G ratio of 0.99 and a beta of 1.14.

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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.

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

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