Captrust Financial Advisors Has $2.72 Million Stock Holdings in First Bancorp (NASDAQ:FBNC)

Captrust Financial Advisors grew its position in shares of First Bancorp (NASDAQ:FBNC) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,459 shares of the financial services provider’s stock after acquiring an additional 478 shares during the quarter. Captrust Financial Advisors’ holdings in First Bancorp were worth $2,722,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FBNC. Natixis Advisors LLC acquired a new position in First Bancorp in the 3rd quarter valued at $1,275,000. Envestnet Asset Management Inc. raised its position in shares of First Bancorp by 8.5% during the second quarter. Envestnet Asset Management Inc. now owns 84,596 shares of the financial services provider’s stock worth $2,700,000 after acquiring an additional 6,628 shares during the last quarter. Truist Financial Corp increased its holdings in First Bancorp by 165.2% in the second quarter. Truist Financial Corp now owns 34,911 shares of the financial services provider’s stock worth $1,114,000 after purchasing an additional 21,749 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in First Bancorp in the third quarter worth approximately $659,000. Finally, Pinnacle Associates Ltd. grew its stake in First Bancorp by 28.4% in the third quarter. Pinnacle Associates Ltd. now owns 83,923 shares of the financial services provider’s stock valued at $3,490,000 after acquiring an additional 18,543 shares during the period. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price target on First Bancorp from $49.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com cut First Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, October 24th.

First Bancorp Stock Up 1.9 %

Shares of NASDAQ:FBNC opened at $47.64 on Thursday. First Bancorp has a 52-week low of $29.53 and a 52-week high of $50.34. The firm has a market capitalization of $1.97 billion, a P/E ratio of 19.21 and a beta of 1.04. The stock has a 50 day moving average price of $44.04 and a 200-day moving average price of $39.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.82 and a current ratio of 0.83.

First Bancorp (NASDAQ:FBNC) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. The firm had revenue of $144.99 million for the quarter, compared to analysts’ expectations of $97.00 million. First Bancorp had a return on equity of 8.00% and a net margin of 17.98%. As a group, equities research analysts anticipate that First Bancorp will post 2.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Bancorp news, Director Suzanne S. Deferie sold 2,036 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $43.77, for a total transaction of $89,115.72. Following the completion of the sale, the director now owns 65,618 shares in the company, valued at $2,872,099.86. This represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.65% of the stock is currently owned by 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. 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.