First Bancorp (NASDAQ:FBNC) Director Carlie C. Mclamb, Jr. Purchases 811 Shares

First Bancorp (NASDAQ:FBNC) Director Carlie C. Mclamb, Jr. acquired 811 shares of First Bancorp stock in a transaction dated Monday, June 24th. The shares were bought at an average price of $30.47 per share, with a total value of $24,711.17. Following the transaction, the director now directly owns 33,139 shares in the company, valued at approximately $1,009,745.33. The trade was a 2.51 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

First Bancorp Trading Down 1.8 %

NASDAQ FBNC opened at $41.71 on Friday. First Bancorp has a one year low of $29.53 and a one year high of $50.34. The firm has a market cap of $1.72 billion, a PE ratio of 22.67 and a beta of 1.04. The firm’s fifty day moving average is $43.84 and its two-hundred day moving average is $43.52. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81.

First Bancorp (NASDAQ:FBNC) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. First Bancorp had a return on equity of 8.04% and a net margin of 14.19%. Analysts expect that First Bancorp will post 3.27 earnings per share for the current year.

Institutional Trading of First Bancorp

Hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC raised its holdings in First Bancorp by 44.3% during the fourth quarter. ProShare Advisors LLC now owns 12,093 shares of the financial services provider’s stock worth $532,000 after purchasing an additional 3,715 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of First Bancorp by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,775 shares of the financial services provider’s stock valued at $1,001,000 after buying an additional 778 shares in the last quarter. Deutsche Bank AG grew its holdings in First Bancorp by 52.2% during the fourth quarter. Deutsche Bank AG now owns 35,579 shares of the financial services provider’s stock worth $1,564,000 after acquiring an additional 12,202 shares during the period. Ameriprise Financial Inc. raised its position in First Bancorp by 372.1% in the fourth quarter. Ameriprise Financial Inc. now owns 742,637 shares of the financial services provider’s stock worth $32,654,000 after acquiring an additional 585,338 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in First Bancorp by 6.9% in the fourth quarter. Northern Trust Corp now owns 443,923 shares of the financial services provider’s stock valued at $19,519,000 after acquiring an additional 28,686 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FBNC. Janney Montgomery Scott downgraded shares of First Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods lifted their price target on First Bancorp from $49.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

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.