First Bancorp (NASDAQ:FBNC) Director Acquires $44,555.62 in Stock

First Bancorp (NASDAQ:FBNCGet Rating) Director Carlie C. Mclamb, Jr. purchased 1,238 shares of the business’s stock in a transaction on Monday, May 16th. The stock was purchased at an average price of $35.99 per share, with a total value of $44,555.62. Following the purchase, the director now owns 21,838 shares of the company’s stock, valued at $785,949.62. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Shares of FBNC stock traded down $0.52 during midday trading on Monday, hitting $35.74. 2,263 shares of the company were exchanged, compared to its average volume of 164,758. The firm’s 50 day moving average price is $40.41 and its two-hundred day moving average price is $44.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $1.27 billion, a P/E ratio of 11.16 and a beta of 1.17. First Bancorp has a 52 week low of $35.71 and a 52 week high of $50.92.

First Bancorp (NASDAQ:FBNCGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.12. First Bancorp had a return on equity of 10.92% and a net margin of 29.04%. Analysts expect that First Bancorp will post 3.99 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of FBNC. Carroll Investors Inc acquired a new stake in First Bancorp during the fourth quarter worth approximately $30,000. Allegheny Financial Group LTD acquired a new stake in First Bancorp during the fourth quarter worth about $31,000. Northwestern Mutual Wealth Management Co. bought a new position in First Bancorp in the 4th quarter valued at about $32,000. Covington Capital Management acquired a new position in shares of First Bancorp in the 4th quarter valued at approximately $32,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of First Bancorp by 67.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 779 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 315 shares during the period. 68.57% of the stock is owned by institutional investors.

Several equities research analysts recently issued reports on FBNC shares. Raymond James began coverage on shares of First Bancorp in a research note on Monday, February 28th. They issued an “outperform” rating and a $49.00 target price for the company. started coverage on First Bancorp in a research note on Thursday, March 31st. They set a “hold” rating for the company.

About First Bancorp (Get Rating)

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 certificate of deposits and individual retirement accounts.

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