Stock Alert: First Bancorp Up 11% As It Joins S&P SmallCap 600

(RTTNews) - Shares of First Bancorp (FBNC) are gaining over 11% on Friday morning after the company announced that it will join S&P SmallCap 600.

FBNC is currently trading at $27.31, up $2.89 or 11.83%, on the Nasdaq.

First Bancorp will replace AMAG Pharmaceuticals Inc. (AMAG) in the S&P SmallCap 600. Covis Group is acquiring AMAG Pharmaceuticals in a deal expected to be completed soon pending final conditions.

First Bancorp operates as the bank holding company for First Bank that provides banking services primarily in North Carolina and northeastern South Carolina.