First Bancorp (NASDAQ:FBNC) Director Sells $89,115.72 in Stock

First Bancorp (NASDAQ:FBNC) Director Suzanne S. Deferie sold 2,036 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $43.77, for a total value of $89,115.72. Following the transaction, the director now directly owns 65,618 shares in the company, valued at $2,872,099.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

First Bancorp Trading Down 1.8 %

Shares of First Bancorp stock opened at $41.41 on Thursday. The company has a market capitalization of $1.71 billion, a P/E ratio of 14.95 and a beta of 1.03. The stock has a fifty day simple moving average of $41.13 and a 200 day simple moving average of $35.55. First Bancorp has a 12-month low of $26.00 and a 12-month high of $45.41. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.07.

First Bancorp (NASDAQ:FBNC) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.11. First Bancorp had a net margin of 20.17% and a return on equity of 8.39%. The firm had revenue of $143.42 million during the quarter, compared to analyst estimates of $94.00 million. On average, sell-side analysts anticipate that First Bancorp will post 2.68 earnings per share for the current fiscal year.

First Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.88 annualized dividend and a yield of 2.13%. First Bancorp’s dividend payout ratio (DPR) is 31.77%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FBNC shares. Keefe, Bruyette & Woods upped their price objective on shares of First Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. StockNews.com lowered shares of First Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, September 7th.

Hedge Funds Weigh In On First Bancorp

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of First Bancorp by 0.4% during the first quarter. Vanguard Group Inc. now owns 2,799,602 shares of the financial services provider’s stock valued at $101,122,000 after acquiring an additional 10,414 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in First Bancorp by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,258 shares of the financial services provider’s stock valued at $67,166,000 after purchasing an additional 136,002 shares during the period. Westwood Holdings Group Inc. increased its position in shares of First Bancorp by 0.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,828,306 shares of the financial services provider’s stock valued at $66,038,000 after purchasing an additional 6,907 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of First Bancorp by 91.7% during the 4th quarter. Franklin Resources Inc. now owns 1,245,024 shares of the financial services provider’s stock worth $46,078,000 after purchasing an additional 595,695 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of First Bancorp by 77.7% in the 1st quarter. Jennison Associates LLC now owns 1,041,332 shares of the financial services provider’s stock worth $37,613,000 after buying an additional 455,406 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

About First Bancorp

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.