9,238 Shares in First Bancorp (NASDAQ:FBNC) Bought by Intech Investment Management LLC

Intech Investment Management LLC bought a new stake in First Bancorp (NASDAQ:FBNC) during the 3rd quarter, HoldingsChannel reports. The firm bought 9,238 shares of the financial services provider’s stock, valued at approximately $384,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of First Bancorp in the 3rd quarter valued at approximately $659,000. Princeton Capital Management LLC purchased a new position in First Bancorp during the 3rd quarter worth $303,000. Natixis Advisors LLC purchased a new position in shares of First Bancorp in the 3rd quarter valued at about $1,275,000. Empowered Funds LLC increased its holdings in shares of First Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 69,180 shares of the financial services provider’s stock valued at $2,877,000 after purchasing an additional 3,484 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in First Bancorp by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 600,609 shares of the financial services provider’s stock valued at $24,979,000 after acquiring an additional 4,656 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at First Bancorp

In other news, Director Suzanne S. Deferie sold 17,750 shares of First Bancorp stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $43.96, for a total value of $780,290.00. Following the completion of the transaction, the director now owns 67,654 shares in the company, valued at approximately $2,974,069.84. The trade was a 20.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.65% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of First Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, October 24th.

First Bancorp Stock Down 1.2 %

FBNC stock opened at $46.74 on Wednesday. First Bancorp has a 1-year low of $29.53 and a 1-year high of $50.34. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 18.85 and a beta of 1.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a fifty day moving average price of $43.92 and a two-hundred day moving average price of $39.30.

First Bancorp (NASDAQ:FBNC) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.70 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.70. The business had revenue of $144.99 million for the quarter, compared to the consensus estimate of $97.00 million. First Bancorp had a return on equity of 8.00% and a net margin of 17.98%. Research analysts predict that First Bancorp will post 2.72 EPS for the current year.

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.