Insider Buying: First Bancorp (NASDAQ:FBNC) Director Purchases 811 Shares of Stock

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

First Bancorp Stock Performance

NASDAQ FBNC opened at $41.71 on Friday. The company’s 50 day moving average is $43.84 and its 200-day moving average is $43.48. First Bancorp has a 12-month low of $29.53 and a 12-month high of $50.34. 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 firm has a market cap of $1.72 billion, a P/E ratio of 22.67 and a beta of 1.04.

First Bancorp (NASDAQ:FBNC) last posted its earnings results 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 net margin of 14.19% and a return on equity of 8.04%. Sell-side analysts predict that First Bancorp will post 3.27 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. 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 objective on shares of First Bancorp from $49.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Hedge Funds Weigh In On First Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc boosted 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 valued at $26,000 after purchasing an additional 265 shares in the last quarter. Sterling Capital Management LLC boosted 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 valued at $55,000 after purchasing an additional 1,123 shares in the last quarter. GAMMA Investing LLC boosted its position in First Bancorp by 22.3% during the 4th quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider’s stock valued at $61,000 after buying an additional 253 shares during the period. KBC Group NV boosted its position in First Bancorp by 76.0% during the 4th quarter. KBC Group NV now owns 2,592 shares of the financial services provider’s stock valued at $114,000 after buying an additional 1,119 shares during the period. Finally, Salem Investment Counselors Inc. boosted its position in 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 valued at $157,000 after buying an additional 2,171 shares during the period. Hedge funds and other 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.