First Bancorp (NASDAQ:FBNC) Stock Holdings Raised by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. raised its stake in First Bancorp (NASDAQ:FBNC) by 28.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 423,461 shares of the financial services provider’s stock after purchasing an additional 93,072 shares during the period. Rockefeller Capital Management L.P.’s holdings in First Bancorp were worth $17,612,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of First Bancorp in the 2nd quarter worth about $44,000. CreativeOne Wealth LLC bought a new stake in shares of First Bancorp in the 3rd quarter worth about $211,000. Aptus Capital Advisors LLC bought a new stake in shares of First Bancorp in the 3rd quarter worth about $212,000. Olympiad Research LP bought a new stake in shares of First Bancorp in the 3rd quarter worth about $217,000. Finally, Everence Capital Management Inc. bought a new stake in shares of First Bancorp in the 3rd quarter worth about $240,000. Institutional investors own 68.36% of the company’s stock.

Insider Activity at First Bancorp

In related news, Director Suzanne S. Deferie sold 2,036 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $43.77, for a total transaction of $89,115.72. Following the completion of the sale, the director now owns 65,618 shares of the company’s stock, valued at $2,872,099.86. This represents a 3.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.65% of the company’s stock.

First Bancorp Price Performance

Shares of NASDAQ:FBNC opened at $47.30 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.06. First Bancorp has a fifty-two week low of $29.53 and a fifty-two week high of $50.34. The firm has a 50-day simple moving average of $43.75 and a 200 day simple moving average of $39.05. The company has a market cap of $1.96 billion, a PE ratio of 19.07 and a beta of 1.02.

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

Wall Street Analyst Weigh In

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

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.