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

First Bancorp (NASDAQ:FBNC) Director Carlie C. Mclamb, Jr. purchased 811 shares of the stock in a transaction dated Monday, June 24th. The shares were purchased at an average price of $30.47 per share, for a total transaction of $24,711.17. Following the completion of the transaction, the director now owns 33,139 shares in the company, valued at $1,009,745.33. This trade represents a 2.51 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

First Bancorp Stock Down 1.8 %

FBNC stock opened at $41.71 on Friday. First Bancorp has a twelve month low of $29.53 and a twelve month high of $50.34. The company has a market cap of $1.72 billion, a PE ratio of 22.67 and a beta of 1.04. The business’s 50-day simple moving average is $43.84 and its 200 day simple moving average is $43.48. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06.

First Bancorp (NASDAQ:FBNC) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, topping 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, research analysts anticipate that First Bancorp will post 3.27 earnings per share for the current year.

Analysts Set New Price Targets

FBNC has been the subject of several recent analyst reports. 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. Janney Montgomery Scott lowered First Bancorp from a “buy” rating to a “neutral” rating in a report on Friday, February 7th.

Hedge Funds Weigh In On First Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its stake in shares of First Bancorp by 82.3% during 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 during the last quarter. Sterling Capital Management LLC raised its holdings in 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 valued at $55,000 after acquiring an additional 1,123 shares during the period. GAMMA Investing LLC increased its holdings in shares of First Bancorp by 22.3% during the fourth quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 253 shares during the period. KBC Group NV increased its holdings in shares of First Bancorp by 76.0% during the fourth quarter. KBC Group NV now owns 2,592 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 1,119 shares during the period. Finally, Salem Investment Counselors Inc. boosted its position in shares of First Bancorp by 157.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 3,551 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 2,171 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

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.