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

First Bancorp (NASDAQ:FBNC) Director Carlie C. Mclamb, Jr. acquired 811 shares of the stock in a transaction on Monday, June 24th. The stock was bought at an average cost of $30.47 per share, for a total transaction of $24,711.17. Following the transaction, the director now owns 33,139 shares of the company’s stock, valued at approximately $1,009,745.33. This trade represents a 2.51 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

First Bancorp Price Performance

NASDAQ FBNC opened at $41.71 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.72 billion, a PE ratio of 22.67 and a beta of 1.04. First Bancorp has a 52 week low of $29.53 and a 52 week high of $50.34. The firm’s 50-day simple moving average is $43.84 and its two-hundred day simple moving average is $43.55.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On First Bancorp

A number of large investors have recently made changes to their positions in FBNC. Wealth Enhancement Advisory Services LLC lifted its holdings in First Bancorp by 1.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,994 shares of the financial services provider’s stock worth $832,000 after purchasing an additional 347 shares in the last quarter. Pinnacle Associates Ltd. increased its position in shares of First Bancorp by 28.4% during the third quarter. Pinnacle Associates Ltd. now owns 83,923 shares of the financial services provider’s stock valued at $3,490,000 after buying an additional 18,543 shares during the period. Olympiad Research LP purchased a new stake in shares of First Bancorp in the third quarter worth about $217,000. Aptus Capital Advisors LLC bought a new position in shares of First Bancorp in the third quarter valued at approximately $212,000. Finally, Victory Capital Management Inc. grew its stake in First Bancorp by 0.8% during the third 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 owned by institutional investors.

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.