First Bancorp (NASDAQ:FBNC) CEO Richard H. Moore purchased 1,250 shares of the stock in a transaction dated Wednesday, September 19th. The shares were purchased at an average cost of $39.79 per share, for a total transaction of $49,737.50. Following the transaction, the chief executive officer now owns 139,935 shares in the company, valued at approximately $5,568,013.65. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
NASDAQ:FBNC traded down $1.59 on Friday, reaching $39.12. 271,329 shares of the company’s stock were exchanged, compared to its average volume of 99,087. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $1.20 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 1.14 and a beta of 0.96. First Bancorp has a 52-week low of $33.88 and a 52-week high of $43.14.
First Bancorp (NASDAQ:FBNC) last issued its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. The company had revenue of $67.34 million for the quarter, compared to analyst estimates of $68.24 million. First Bancorp had a net margin of 26.25% and a return on equity of 10.53%. Analysts expect that First Bancorp will post 3.02 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 25th. Shareholders of record on Sunday, September 30th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.40 dividend on an annualized basis and a yield of 1.02%. First Bancorp’s dividend payout ratio (DPR) is presently 21.62%.
A number of large investors have recently modified their holdings of FBNC. Macquarie Group Ltd. increased its stake in shares of First Bancorp by 10.1% during the second quarter. Macquarie Group Ltd. now owns 771,746 shares of the financial services provider’s stock worth $31,572,000 after buying an additional 70,781 shares during the period. Stifel Financial Corp increased its stake in shares of First Bancorp by 26.3% during the first quarter. Stifel Financial Corp now owns 9,977 shares of the financial services provider’s stock worth $359,000 after buying an additional 2,075 shares during the period. Penn Capital Management Co. Inc. increased its stake in shares of First Bancorp by 11.5% during the first quarter. Penn Capital Management Co. Inc. now owns 47,135 shares of the financial services provider’s stock worth $1,680,000 after buying an additional 4,849 shares during the period. Citadel Advisors LLC purchased a new stake in shares of First Bancorp during the second quarter worth approximately $898,000. Finally, Renaissance Technologies LLC increased its stake in shares of First Bancorp by 2.2% during the second quarter. Renaissance Technologies LLC now owns 593,814 shares of the financial services provider’s stock worth $24,293,000 after buying an additional 12,605 shares during the period. Institutional investors own 65.04% of the company’s stock.
Several research analysts have recently weighed in on FBNC shares. Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, September 25th. BidaskClub lowered shares of First Bancorp from a “hold” rating to a “sell” rating in a report on Friday, September 14th. Brean Capital restated a “buy” rating on shares of First Bancorp in a report on Monday, August 27th. Sandler O’Neill lowered shares of First Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Finally, Raymond James lowered shares of First Bancorp from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 10th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. First Bancorp presently has a consensus rating of “Buy” and an average target price of $41.75.
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 primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificates of deposits and individual retirement accounts.
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