Separately, Keefe, Bruyette & Woods lifted their price target on shares of First Bancorp from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th.
Get Our Latest Stock Report on FBNC
FBNC traded up $0.31 during trading on Wednesday, hitting $41.38. The company had a trading volume of 87,821 shares, compared to its average volume of 162,152. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.07. First Bancorp has a one year low of $26.00 and a one year high of $45.41. The firm's 50-day moving average price is $41.23 and its 200 day moving average price is $36.03. The company has a market capitalization of $1.70 billion, a PE ratio of 14.94 and a beta of 1.03.
First Bancorp (NASDAQ:FBNC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $94.00 million. As a group, equities analysts expect that First Bancorp will post 2.68 earnings per share for the current year.
In other news, Director Suzanne S. Deferie sold 17,750 shares of the business's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $43.96, for a total transaction of $780,290.00. Following the transaction, the director now directly owns 67,654 shares in the company, valued at $2,974,069.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other First Bancorp news, Director Suzanne S. Deferie sold 2,036 shares of the business's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $43.77, for a total value of $89,115.72. Following the completion of the sale, the director now owns 65,618 shares of the company's stock, valued at $2,872,099.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Suzanne S. Deferie sold 17,750 shares of the business's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $43.96, for a total transaction of $780,290.00. Following the completion of the sale, the director now directly owns 67,654 shares of the company's stock, valued at $2,974,069.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,586 shares of company stock worth $1,859,154 in the last ninety days. Insiders own 3.65% of the company's stock.
A number of institutional investors have recently bought and sold shares of FBNC. Jennison Associates LLC lifted its holdings in shares of First Bancorp by 77.7% during the 1st quarter. Jennison Associates LLC now owns 1,041,332 shares of the financial services provider's stock worth $37,613,000 after acquiring an additional 455,406 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of First Bancorp by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,104,258 shares of the financial services provider's stock valued at $67,166,000 after acquiring an additional 136,002 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of First Bancorp by 18.4% during the second quarter. William Blair Investment Management LLC now owns 802,490 shares of the financial services provider's stock valued at $25,615,000 after acquiring an additional 124,992 shares during the last quarter. American National Bank & Trust Co. VA bought a new position in shares of First Bancorp during the first quarter valued at $4,071,000. Finally, Smith Salley Wealth Management bought a new position in First Bancorp during the second quarter worth $3,568,000. Institutional investors own 68.36% of the company's stock.
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.
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