Aviva PLC Makes New Investment in First Bancorp (NASDAQ:FBNC)

Aviva PLC purchased a new position in First Bancorp (NASDAQ:FBNC) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 37,330 shares of the financial services provider’s stock, valued at approximately $1,326,000.

A number of other hedge funds also recently bought and sold shares of the business. Greenwood Capital Associates LLC increased its position in shares of First Bancorp by 120.4% in the first quarter. Greenwood Capital Associates LLC now owns 31,723 shares of the financial services provider’s stock valued at $1,127,000 after buying an additional 17,328 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of First Bancorp by 0.4% in the first quarter. William Blair Investment Management LLC now owns 791,962 shares of the financial services provider’s stock valued at $28,130,000 after buying an additional 2,790 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of First Bancorp in the first quarter valued at approximately $460,000. Panagora Asset Management Inc. increased its stake in shares of First Bancorp by 136.0% during the first quarter. Panagora Asset Management Inc. now owns 146,889 shares of the financial services provider’s stock worth $5,217,000 after purchasing an additional 84,636 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of First Bancorp by 11.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 375,817 shares of the financial services provider’s stock worth $13,349,000 after purchasing an additional 38,863 shares in the last quarter. Hedge funds and other institutional investors own 66.17% of the company’s stock.

First Bancorp Stock Down 3.6 %

Shares of FBNC opened at $27.75 on Friday. First Bancorp has a one year low of $26.25 and a one year high of $49.00. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 8.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50 day moving average price of $31.50 and a 200 day moving average price of $33.03.

First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). First Bancorp had a net margin of 25.25% and a return on equity of 10.49%. The business had revenue of $101.22 million for the quarter, compared to analysts’ expectations of $105.50 million. Equities research analysts forecast that First Bancorp will post 2.47 earnings per share for the current fiscal year.

First Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.17%. The ex-dividend date was Thursday, June 29th. First Bancorp’s payout ratio is currently 27.33%.

Analyst Ratings Changes

FBNC has been the subject of a number of research reports. Raymond James cut shares of First Bancorp from an “outperform” rating to a “market perform” rating in a research note on Monday, July 31st. StockNews.com raised shares of First Bancorp to a “sell” rating in a research note on Saturday, August 26th.

Insider Buying and Selling at First Bancorp

In other news, Director Carlie C. Mclamb, Jr. purchased 1,176 shares of the company’s stock in a transaction dated Tuesday, June 27th. The stock was acquired at an average price of $31.10 per share, with a total value of $36,573.60. Following the purchase, the director now directly owns 29,462 shares in the company, valued at approximately $916,268.20. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Carlie C. Mclamb, Jr. purchased 1,176 shares of the company’s stock in a transaction dated Tuesday, June 27th. The stock was acquired at an average price of $31.10 per share, with a total value of $36,573.60. Following the purchase, the director now directly owns 29,462 shares in the company, valued at approximately $916,268.20. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mason Y. Garrett sold 61,215 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $29.88, for a total value of $1,829,104.20. Following the transaction, the director now owns 267,975 shares of the company’s stock, valued at $8,007,093. The disclosure for this sale can be found here. 3.65% of the stock is owned by company insiders.

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. 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.