First Bancorp (NYSE:FBP) Position Increased by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. lifted its holdings in shares of First Bancorp (NYSE:FBP) by 7.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,130,366 shares of the bank’s stock after buying an additional 154,570 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.99% of First Bancorp worth $10,908,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Arizona State Retirement System boosted its position in shares of First Bancorp by 0.5% during the second quarter. Arizona State Retirement System now owns 81,972 shares of the bank’s stock valued at $475,000 after buying an additional 400 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in First Bancorp by 0.4% in the second quarter. PNC Financial Services Group Inc. now owns 124,589 shares of the bank’s stock valued at $720,000 after acquiring an additional 437 shares during the period. Profund Advisors LLC lifted its holdings in First Bancorp by 15.2% in the second quarter. Profund Advisors LLC now owns 30,661 shares of the bank’s stock valued at $178,000 after acquiring an additional 4,052 shares during the period. Bank of Montreal Can lifted its holdings in First Bancorp by 21.5% in the second quarter. Bank of Montreal Can now owns 24,092 shares of the bank’s stock valued at $139,000 after acquiring an additional 4,256 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its holdings in First Bancorp by 7.6% in the second quarter. UBS Asset Management Americas Inc. now owns 62,176 shares of the bank’s stock valued at $360,000 after acquiring an additional 4,402 shares during the period. 90.29% of the stock is currently owned by institutional investors.

A number of research firms have weighed in on FBP. ValuEngine downgraded First Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. Zacks Investment Research raised First Bancorp from a “sell” rating to a “hold” rating and set a $5.75 target price on the stock in a report on Tuesday. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $7.50 price objective on shares of First Bancorp in a research note on Friday, November 10th. Citigroup raised First Bancorp from a “neutral” rating to a “buy” rating in a research note on Thursday, December 21st. Finally, TheStreet downgraded First Bancorp from a “b-” rating to a “c” rating in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. First Bancorp has a consensus rating of “Hold” and a consensus target price of $6.55.

Shares of First Bancorp (NYSE:FBP) opened at $5.40 on Friday. The stock has a market capitalization of $1,160.00, a P/E ratio of 18.00, a P/E/G ratio of 1.69 and a beta of 1.93. First Bancorp has a 12 month low of $4.48 and a 12 month high of $7.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03.

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About First Bancorp

Institutional Ownership by Quarter for First Bancorp (NYSE:FBP)

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