Zurcher Kantonalbank Zurich Cantonalbank Cuts Stake in First Bancorp (NASDAQ:FBNC)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of First Bancorp (NASDAQ:FBNC) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Swiss National Bank lifted its position in First Bancorp by 1.3% during the 3rd quarter. Swiss National Bank now owns 90,200 shares of the financial services provider’s stock worth $2,538,000 after acquiring an additional 1,200 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of First Bancorp by 8.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,476 shares of the financial services provider’s stock worth $684,000 after purchasing an additional 1,438 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of First Bancorp by 11.0% in the third quarter. Deutsche Bank AG now owns 20,170 shares of the financial services provider’s stock valued at $568,000 after purchasing an additional 1,992 shares during the period. Resources Management Corp CT ADV grew its holdings in First Bancorp by 57.1% during the 3rd quarter. Resources Management Corp CT ADV now owns 7,700 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 2,799 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in First Bancorp by 3,504.0% during the 3rd quarter. Fifth Third Bancorp now owns 3,640 shares of the financial services provider’s stock worth $102,000 after buying an additional 3,539 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

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

First Bancorp Trading Up 0.5 %

FBNC opened at $31.85 on Monday. First Bancorp has a 12-month low of $26.00 and a 12-month high of $38.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $1.31 billion, a PE ratio of 11.50 and a beta of 1.02. The firm’s fifty day moving average price is $33.62 and its 200 day moving average price is $33.60.

First Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Sunday, March 31st were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.76%. First Bancorp’s dividend payout ratio (DPR) 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.