First Bancorp (FBNC) Director Sells $83,362.50 in Stock

First Bancorp (NASDAQ:FBNC) Director Mary Clara Capel sold 2,250 shares of the company’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $37.05, for a total value of $83,362.50. Following the sale, the director now owns 13,746 shares of the company’s stock, valued at $509,289.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of First Bancorp stock opened at $35.05 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. First Bancorp has a 12 month low of $27.50 and a 12 month high of $41.76. The stock has a market capitalization of $1,039.02, a PE ratio of 19.15, a PEG ratio of 0.97 and a beta of 1.14.

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First Bancorp (NASDAQ:FBNC) last posted its earnings results on Monday, January 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09). First Bancorp had a net margin of 20.32% and a return on equity of 8.43%. The company had revenue of $63.72 million during the quarter, compared to analyst estimates of $64.12 million. analysts expect that First Bancorp will post 2.7 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Friday, March 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.14%. This is a positive change from First Bancorp’s previous quarterly dividend of $0.08. First Bancorp’s dividend payout ratio (DPR) is 17.78%.

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of First Bancorp in the third quarter valued at about $107,000. Acadian Asset Management LLC acquired a new stake in shares of First Bancorp in the fourth quarter valued at about $125,000. Advisor Group Inc. grew its stake in shares of First Bancorp by 145.8% in the fourth quarter. Advisor Group Inc. now owns 4,056 shares of the financial services provider’s stock valued at $143,000 after buying an additional 2,406 shares in the last quarter. Pitcairn Co. acquired a new stake in shares of First Bancorp in the fourth quarter valued at about $207,000. Finally, Meeder Asset Management Inc. grew its stake in shares of First Bancorp by 516.0% in the fourth quarter. Meeder Asset Management Inc. now owns 6,074 shares of the financial services provider’s stock valued at $214,000 after buying an additional 5,088 shares in the last quarter. Institutional investors and hedge funds own 61.57% of the company’s stock.

Several brokerages have commented on FBNC. BidaskClub upgraded First Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 15th. Zacks Investment Research lowered First Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Brean Capital restated a “buy” rating on shares of First Bancorp in a research note on Monday, February 5th. Piper Jaffray Companies restated a “buy” rating and set a $42.00 price target on shares of First Bancorp in a research note on Tuesday, January 9th. Finally, ValuEngine upgraded First Bancorp from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. First Bancorp currently has a consensus rating of “Buy” and a consensus target price of $39.50.

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First Bancorp Company Profile

First Bancorp is the bank holding company for First Bank (the Bank). The Company’s principal activity is the ownership and operation of First Bank. The Bank engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Bank offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.

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