Truist Financial Corp Has $1.11 Million Stock Holdings in First Bancorp (NASDAQ:FBNC)

Truist Financial Corp increased its holdings in shares of First Bancorp (NASDAQ:FBNC) by 165.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 34,911 shares of the financial services provider’s stock after acquiring an additional 21,749 shares during the quarter. Truist Financial Corp’s holdings in First Bancorp were worth $1,114,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Jennison Associates LLC lifted its position in shares of First Bancorp by 77.7% during the 1st quarter. Jennison Associates LLC now owns 1,041,332 shares of the financial services provider’s stock worth $37,613,000 after purchasing an additional 455,406 shares during the last quarter. SageView Advisory Group LLC acquired a new position in First Bancorp in the 1st quarter valued at approximately $943,000. Vanguard Group Inc. raised its holdings in First Bancorp by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 2,789,188 shares of the financial services provider’s stock valued at $103,228,000 after acquiring an additional 52,812 shares in the last quarter. American National Bank & Trust Co. VA acquired a new position in First Bancorp in the 1st quarter valued at approximately $4,071,000. Finally, Envestnet Asset Management Inc. raised its holdings in First Bancorp by 8.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 84,596 shares of the financial services provider’s stock valued at $2,700,000 after acquiring an additional 6,628 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Keefe, Bruyette & Woods upped their price target on First Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. StockNews.com raised First Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th.

Insider Buying and Selling at First Bancorp

In other news, Director Suzanne S. Deferie sold 17,750 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $43.96, for a total value of $780,290.00. Following the transaction, the director now directly owns 67,654 shares in the company, valued at $2,974,069.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Suzanne S. Deferie sold 2,036 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $43.77, for a total value of $89,115.72. Following the transaction, the director now directly owns 65,618 shares in the company, valued at $2,872,099.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Suzanne S. Deferie sold 17,750 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $43.96, for a total value of $780,290.00. Following the sale, the director now directly owns 67,654 shares in the company, valued at $2,974,069.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,586 shares of company stock worth $1,859,154. Insiders own 3.65% of the company’s stock.

First Bancorp Trading Up 2.9 %

Shares of FBNC opened at $42.56 on Monday. First Bancorp has a 1 year low of $26.00 and a 1 year high of $45.41. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of $41.32 and a 200-day simple moving average of $36.13. The stock has a market cap of $1.75 billion, a PE ratio of 15.36 and a beta of 1.03.

First Bancorp (NASDAQ:FBNC) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. The business had revenue of $143.42 million during the quarter, compared to analysts’ expectations of $94.00 million. First Bancorp had a return on equity of 8.39% and a net margin of 20.17%. On average, sell-side analysts predict that First Bancorp will post 2.72 EPS for the current fiscal year.

First Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be given a $0.22 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.88 dividend on an annualized basis and a yield of 2.07%. First Bancorp’s payout ratio is 31.77%.

About First Bancorp

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.