First Bancorp (NASDAQ:FBNC) declared a quarterly dividend on Thursday, June 15th, NASDAQ reports. Shareholders of record on Friday, June 30th will be given a dividend of 0.08 per share by the financial services provider on Tuesday, July 25th. This represents a $0.32 annualized dividend and a yield of 1.01%. The ex-dividend date is Wednesday, June 28th.

First Bancorp (NASDAQ:FBNC) traded down 0.76% during trading on Friday, reaching $31.34. 64,861 shares of the company’s stock traded hands. The firm has a market cap of $772.66 million, a PE ratio of 23.48 and a beta of 1.14. First Bancorp has a 12 month low of $17.15 and a 12 month high of $32.27. The firm has a 50 day moving average price of $29.30 and a 200-day moving average price of $28.80.

Dividend History for First Bancorp (NASDAQ:FBNC)

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FBNC has been the topic of several analyst reports. Brean Capital initiated coverage on shares of First Bancorp in a research report on Friday, June 9th. They set a “buy” rating and a $33.00 price target on the stock. Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Monday, May 1st. Finally, ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. First Bancorp currently has a consensus rating of “Buy” and an average price target of $29.50.

In other news, insider Eric P. Credle acquired 1,000 shares of the stock in a transaction dated Thursday, May 4th. The shares were bought at an average cost of $29.89 per share, for a total transaction of $29,890.00. Following the purchase, the insider now directly owns 26,674 shares of the company’s stock, valued at $797,285.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 3,222 shares of company stock worth $93,519 over the last 90 days. 1.89% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its position in First Bancorp by 1.9% in the first quarter. Teachers Advisors LLC now owns 46,900 shares of the financial services provider’s stock valued at $1,374,000 after buying an additional 876 shares in the last quarter. Credit Suisse AG raised its position in First Bancorp by 9.3% in the first quarter. Credit Suisse AG now owns 42,834 shares of the financial services provider’s stock valued at $1,254,000 after buying an additional 3,627 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in First Bancorp by 18.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 79,221 shares of the financial services provider’s stock valued at $2,321,000 after buying an additional 12,498 shares in the last quarter. Bank of America Corp DE raised its position in First Bancorp by 107.5% in the first quarter. Bank of America Corp DE now owns 37,652 shares of the financial services provider’s stock valued at $1,103,000 after buying an additional 19,504 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in First Bancorp by 13.3% in the first quarter. Vanguard Group Inc. now owns 802,073 shares of the financial services provider’s stock valued at $23,492,000 after buying an additional 94,334 shares in the last quarter. Institutional investors own 58.02% of the company’s stock.

First Bancorp Company Profile

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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