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

First Bancorp (NASDAQ:FBNC) Director Carlie C. Mclamb, Jr. bought 811 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was purchased at an average price of $30.47 per share, with a total value of $24,711.17. Following the transaction, the director now owns 33,139 shares in the company, valued at approximately $1,009,745.33. This represents a 2.51 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

First Bancorp Stock Performance

First Bancorp stock traded down $0.10 during mid-day trading on Friday, hitting $42.37. 57,861 shares of the company’s stock traded hands, compared to its average volume of 163,964. The firm has a 50 day moving average price of $43.96 and a 200 day moving average price of $43.46. 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 $1.75 billion, a PE ratio of 23.02 and a beta of 1.04. First Bancorp has a one year low of $29.53 and a one year high of $50.34.

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

Analysts Set New Price Targets

FBNC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods boosted their price objective on First Bancorp from $49.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. StockNews.com lowered First Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, October 24th. Finally, Janney Montgomery Scott lowered First Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, February 7th.

Institutional Trading of First Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of FBNC. Versant Capital Management Inc raised its stake in shares of First Bancorp by 82.3% in the 4th quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock worth $26,000 after buying an additional 265 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of First Bancorp by 807.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,262 shares of the financial services provider’s stock worth $55,000 after buying an additional 1,123 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of First Bancorp by 22.3% in the 4th quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider’s stock worth $61,000 after buying an additional 253 shares in the last quarter. KBC Group NV raised its stake in shares of First Bancorp by 76.0% in the 4th quarter. KBC Group NV now owns 2,592 shares of the financial services provider’s stock worth $114,000 after buying an additional 1,119 shares in the last quarter. Finally, Salem Investment Counselors Inc. raised its stake in shares of First Bancorp by 157.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 3,551 shares of the financial services provider’s stock worth $157,000 after buying an additional 2,171 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

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.